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.
Balloting Results
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.
Happy IPOing.
Comments
2: Mr IPO, can I ask if there is any benefit to the company to have MANY share holders since it seems that those who bid less have higher chance of getting what is ordered and higher % of order filled. More share holders means higher admin costs and more questions to answer during AGM not to mention mouths to feed. Is it some legal requirement and why do these companies like to have many shareholders? 'Charity' to those with less $ or that single digit unit holders are less likely to sell (transaction fee prohibitive)?
Tks if u can answer at least QN 2.
2. There is a requirement to have 1000 shareholders. The company probably trying to ensure they meet that obligation by allocating to smaller shareholders. Give 1 lot will mean that they can meet that requirement and it is tougher to sell just 1 lot. Most will just hold on for the longer term and not sell on the first day
got 9000 from 20000 subcribed.
If it is just window dressing to give semblance of share mkt robustness/ transparency (many shareholding participants), than the law is SHAM.
Are there too many loopholes in SGX/IPO rules???!!!
Many tks if U can answer my question😀.
Got 22lots sold @0.86....
Wish everyone Huatx3! Especially our beloved Mr IPO who spent so much effort to provide his useful insights.
What do you think is the NAV for JApfa?