25-07-2014, 11:23 PM
The ballot result is out and the public offer has been undersubscribed.
AG Trust Ballot Result
And worst, there will be no stabilising manager because no over-allotment option was exercised.
Can u imagine the chap who applied 50 lots thinking he will get 4-5 lots as per usual IPO? He will get a nice surprise when he's allotted in full!
Can't remember the last time an IPO was undersubscribed. I remember that ThaiBev IPO was quite close but was low 1.x times over-subscribed.
Will be fun to see how much the price will fare especially without SM doing some support.
AG Trust Ballot Result
Quote:At the close of the Singapore Public Offering at 4.00 p.m. on 24 July 2014, there was a total of 1,246 applications for an aggregate of 29,275,000 Units received for the Singapore Public Offering. A total of 28,839,000 Units were allocated to all applicants who have submitted valid applications for the Units under the Singapore Public Offering.
Excluding applications from connected persons (as defined in the Listing Manual) and persons mentioned in Rule 240 of the Listing Manual, based on the number of Units available for subscription under the Singapore Public Offering and the number of valid applications received, the Singapore Public Offering was approximately 0.7 times subscribed.
And worst, there will be no stabilising manager because no over-allotment option was exercised.
Can u imagine the chap who applied 50 lots thinking he will get 4-5 lots as per usual IPO? He will get a nice surprise when he's allotted in full!
Can't remember the last time an IPO was undersubscribed. I remember that ThaiBev IPO was quite close but was low 1.x times over-subscribed.
Will be fun to see how much the price will fare especially without SM doing some support.