16 Aug '11, 2pm

Sheng Siong IPO over subscribed

Sheng Siong IPO over subscribed

SINGAPORE: Home-grown retailer Sheng Siong has announced its initial public offering (IPO) was oversubscribed by approximately 1.3 times. This was based on a total of 351.5 million Invitation Shares and the total valid applications received, amounting to approximately 448.7 million Invitation Shares. They comprised approximately 85.3 million Offer Shares and 363.4 million Placement Shares. The supermarket chain said it received strong interest from retail investors and backed by quality institutional investors. Anchor investors for the IPO include JF Asset Management Limited and Prudential Asset Management (Singapore) Limited. Sheng Siong is due to start trading on the Singapore Exchange on August 17, despite turbulence in the global market. It had told MediaCorp it would not be swayed from its IPO plans, no matter how volatile the market has been. According to Sheng Siong...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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