Tuesday, 19 July 2016

Procurri Corporation Limited - Balloting Results



Procurri Corporation Limited ("Procurri") announced that its IPO was 1.9x subscribed where the public tranche of 6.88m shares were oversubscribed by 10x.

Commenting on the strong response from investors, Mr. Sean Murphy, Procurri's Global Chief Executive Officer, said, "We are elated with the broad-based support from both institutional and retail investors. The results reflect investors' appreciation for Procurri's investment story and a mark of confidence in our management's capabilities. Building on our solid fundamentals and increased access to the capital markets now, we are ready to accelerate and execute our growth strategies tobe the market leader in our industry." 

The balloting table is as follows:


Investors who applied for 50,000 shares will have a 45% chance to get 12,000 shares and investors who applied for 100,000 shares will have 50% chance to be allotted 25,000 shares. 

In addition, it is interesting to see quality "real money" investors being allotted at least 5% of the offer shares. The names are as follows:


Mr. Vesmond Wong, Chairman and Group Chief Executive Officer of DeClout Limited, added, "Being our maiden spin-off, the success of Procurri's IPO speaks volumes of our ability to invest, incubate, scale and harvest companies within our portfolio. After Procurri's listing on the Main Board of the SGX-ST, DeClout will continue to hold considerable interests in Procurri, participate in its growth, and be well-positioned to better reward its shareholders."

It is interesting to note that the market cap of Procurri is $156.8m while that of Declout is only $143.84m and Declout holds 46% of Procurri? If Procurri pops up tomorrow, investors might be better off buying into Declout instead of Procurri? 

Happy Declouting

15 comments:

Anonymous said...

Did you get any from the public trench?

Anonymous said...

what do you mean by quality "real money" investors which you wrote?!

so now after the balloting results are out, what is your guess on the opening price of this ipo tomorrow?!

Anonymous said...

Mr Ipo, I tiok... any estimated prices?

Mr. IPO said...

Never get

Mr. IPO said...

Go google "real money managers" lor. My guess is the same as what I mentioned previously

Anonymous said...

when will u review wong fong ipo?

Lowzeewee said...

quite hard to say how this one will go tomorrow.

Unknown said...

"It is interesting to note that the market cap of Procurri is $156.8m while that of Declout is only $143.84m and Declout holds 46% of Procurri? If Procurri pops up tomorrow, investors might be better off buying into Declout instead of Procurri? "

You may also wish to consider Declout's effective interest in Procurri post spin-off.

Anonymous said...

Lost heavily... alloted 25 lots...

Mr Ipo, just curious if it is you, would u cut loss tmr morning?

Mr. IPO said...

Sorry to hear about your loss. If I look at how I would trade this, if it didn't open according to my expectation, I would have set a cut loss level. I usually have a stop loss for all my positions and in this case it would be at 54c as that had been the low for the most of the trading day.

If I have not cut loss yesterday, I would put a stop below yesterday's low.

Anonymous said...

Would u be giving your comments on EC World Reit ? Thanks.

Anonymous said...

Hi Mr Ipo,

This one bounced back strongly today... u heard anything? Haven cut loss...

If it is u would u hold for time being and watch the flow?

Mr. IPO said...

No la. Never hear anything. Sometimes hear too many things also not good as it influence decision making.

Mashimaru said...

Hello Mr IPO, what is your point of view for Wong Fong IPO?

Mr. IPO said...

Will do the IPOs over the weekend ...

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