28 Sep '17, 4am

APAC Realty receives strong investor interest at IPO

APAC Realty Limited, which operates under the ERA brand, received robust investor interest for its shares during its initial public offering (IPO), with the public offering and international placement being 26.0 times and 13.4 times subscribed, respectively. The company offered an international placement of 44.5 million shares and a public offering of 4.4 million shares at S$0.66 per share. In a release, APAC Realty revealed that it received 3,035 applications for a total of 127.7 million shares for its public offering, with the application monies amounting to around S$84.3 million. Aggregate indications of interest received from international investors stood at 597.6 million, with a total value of around S$394.4 million. Given the “strong demand from institutional investors during the bookbuilding period”, DBS Bank, as the company’s stabilising manager, over-allotted 9.75...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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