Aspen announced that its PUBLIC tranche was 7.8x subscribed. Super misleading considering that the public tranche is small. I think most IPOs try to use the entire subscription rather than the public tranche only.
I didn't compute but if combined with the placement tranche, it's probably about "1x subscribed"
Commenting on the subscription results, Dato' Murly, Executive Director, President and Group CEO of Aspen, said, "We are greatly encouraged by the strong investor demand for our IPO, which we believe reflects the confidence in the potential of our properties, prospects and future plans. We would like to thank them for their strong support and welcome them as our new shareholders. We will strive to grow our business further, riding on the bright prospects for the property development sector in Penang. With this listing, we believe Aspen is positioned for the next phase of growth regionally."
The balloting and placement table below.
Interesting to see institutional support from Setia, Affin and Daiwa. They probably see "value" and know the company better than what my untrained eyes can't see.
Good luck to those investors who went for the ATM. You will be 100% Bao Tio as indicated by the table above. Hope it's durian Bao Jiak tomorrow.
Happy Aspening
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