Acromec Limited announced that its IPO received strong interest from investors where its shares is about 5.3x subscribed. Below is the excerpt from its Managing Director on the strong response.
Mr. Lim Say Chin, Executive Chairman and Managing Director of Acromec, said: "We are deeply encouraged by the strong investor support we have received for our IPO. This is a clear demonstration of the confidence that the investment community has in Acromec's proven track record and promising prospects in serving the growing healthcare, biomedical, and research and academia sectors."
The balloting table is as follows:
Investors who applied for 100,000 to 499,900 shares have the highest allocation to the shares and a 30:99 probability. They will get be allotted 7,000 shares.
Mr. IPO is unsuccessful for both accounts for the public tranche :(
The placement tranche is pretty well supported with Alan Wang from Asdew Acquisitions allotted 5.7m shares.
Good luck to those who applied and got it. Let's see if it performs well on Monday.