Hyflux announced that its public offering of Perps were oversubscribed by around 3x and as a result, the overall offering was upsized the tranche to $500m. All investors who applied will receive something. The Perps will start trading on 30 May 2016 at 9am.
Ms Olivia Lum (林爱莲), Executive Chairman and Group CEO of Hyflux, said, "We would like to thank investors for the enthusiastic subscription for the Offer, and thereby believing and participating in our growth as we continue to execute our strategies and strengthen our global leadership position in providing sustainable solutions in the areas of water and energy."
The balloting ratio is as follows:
Not sure if it is a good thing to issue such a large tranche. The effect is that everyone is allocated and that Hyflux has raised sufficient funds to redeem the prior Perps (see announcement below). Let's see how the Perps perform on Monday ^_^
Comments
Kim Heng just announced partnership with Iran. I guess Iran is a country of potential opportunity for Hyflux and Singapore after sanctions lifted.
algeria , oman, etc now iran...
i know coz i worked there
personally i think iran is good place for coy to venture.
fortune favours the brave
Q1: If they are so profitable why can't they use the earnings to repay the 3.5% outstanding notes issued on 3rd July 2008 and also 4.8% outstanding perpetual cost?
Q2: Since 2008 the interest for debts raised was 3.5%, 4.8% and now 6%? Isn't the interest repayments ballooning?
Will you be writing on the ipo of Fraser? Looking forward to read them.