Advancer Global announced that its shares have been 5.5x over-subscribed. The public tranche of 2m shares were about 98x subscribed!
It is interesting to note the intent of the management in the press release which is reflected in the balloting ratio.
"We are heartened by the strong vote of confidence from both the retail and institutional investors. The balloting ratio reflects the management's intent to distribute to a wider and diversified group of investors to participate in the future growth of the company."
You can see that management has "favored" the smaller retail investors this time round and if you apply for less shares, the probability of getting the shares is actually higher! This is probably the first time i see such balloting table favoring smaller retail investors!
Havenport Asset Management subscribed for 8.2m placement shares (consisting 19% of the IPO tranche). It's good to see some "real money" in the IPO.
My view is that the IPO was very well received by different investors group and it is definitely good to see a "real money" institutional investor. Investors who are lucky enough to get some shares should see a chilli hot debut on Monday.
Happy IPOing
Comments
Thanks for your great call on this issuance!
tks!
(1) my ratings is for readers to decide whether they want to subscribe or not. Not for readers to chase the stocks after it has listed
(2) I tell you whether i am vested or not so that you can decide for yourself whether my views are biased and most of the time, they are.
(3)Readers who have been following me for a long time knows that being vested doesn't affect my chilli ratings. I have given zero ratings to IPOs which i am vested so are you new to my blog?
(4) I have shared what i think the fair value range is in my blog. If the price moved beyond my fair value range because investors chase them, am i not allowed to sell?
(5) If you think i can control the market, you have to think again...