Pages

Thursday, October 29, 2020

Nanofilm's IPO 30.6 times subscribed - Business Times

Fri, Oct 30, 2020 - 5:50 AM

NANOFILM Technologies received applications from retail investors for 30.6 times the number of shares available in the public portion of its initial public offering (IPO), it said in an exchange filing on Thursday.

The Singapore public offer attracted more than 8,000 applications for 118 million shares, while only 3.9 million shares were available to the public for subscription.

Its international placement of 73.4 million shares to investors outside the US drew indications of interest for over 1.7 billion shares, which makes it approximately 22.9 times subscribed, said the company, which specialises in advanced materials and nanoproducts.

Based on the 77.2 million shares available in total, the offering had a subscription rate of 23.3 times.

With a total of 658.4 million shares, the company's market value at the IPO price will be just over S$1.7 billion.

Nanofilm said it had received strong support from institutional, high net worth and retail investors for its initial public offering. Cornerstone investors - including AIA Investment Management, Aberdeen Standard Investments (Asia), Credit Suisse, and JPMorgan Asset Management (Singapore) - have subscribed for some 104.3 million shares amounting to around S$270 million, representing a 15.8 per cent stake in the company after the completion of the offering as well as the issuance and sale of the cornerstone shares.

Trading will begin at 9am on Oct 30.

Let's block ads! (Why?)

Article From & Read More ( Nanofilm's IPO 30.6 times subscribed - Business Times )
https://ift.tt/3mApx1A
Business

No comments:

Post a Comment