JAPFA announced that its public offer of 16.8m shares was 9.7x subscribed. Given the larger float and quantum and the weak IPO sentiments, i have to say that this is a very strong subscription rate. The overall IPO was about 5x subscribed.
The above table shows the balloting results. Those who applied for less shares will actually have a higher chance than those who applied for more shares... unbelievable.
It is interesting that they did not declare who the substantial placement holders are... from the grapevine, Asdew and Marubeni are substantial placement subscribers but somehow the Company did not reveal those names.
Instead, they chose to announce that Dymon Asia Multi Strategy Master Fund has subscribed for 500,000 shares. Dymon is run by a NTU alumni called Danny Yong and he is one of the global top 40 highest earning hedge fund manager. He definitely helps fly our Singapore flag in the hedge fund world. ^_^
Mr. IPO's result
In case you still don't know, Mr. IPO is one who puts money where his mouth is and is a pretty straight forward person. Yes or No. Buy or Sell.
Anyway, i am not successful in my IPO application, perhaps i should have applied for less shares instead.