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Thursday, 19 April 2018

SLB Development Ltd - Balloting Results

SLB Development ("SLB" or the "Company") announced that its public tranche of 8m shares was 20.6x subscribed. Combining with the placement tranche of 238m shares, the overall IPO was 1.7x subscribed.

Commenting on the robust investor demand, Mr Matthew Ong, Executive Director and CEO of SLB, said, "The positive demand from both retail and institutional investors clearly shows the confidence in SLB's business model and growth potential. This is just the beginning and with a view to pursuing opportunities in Singapore and abroad, we are excited to bring SLB to the next level of growth."

The public offering balloting table is below:

Investors who applied for 10,000 to 49,000 shares will have a 52.5% chance of being allotted 5,000 shares.

With regards to the placement tranche, 6 investors (i lumpted ICH and Mr Toe as one) were allotted a total of 91m shares (~38% of the issuance). The names comprises some known names in the property circle such as Simon Cheong of SC Global, Low See Ching of Oxley, Teo Kee Bock from Super Group, Lin Yu Cheng from United Enivrotech,  as well as the former "S-Chip" kingpin, Han Seng Juan of Centurion and Toe Teow Heng from ICH Group.

I hope these "towkays" will help support the debut... 

Happy SLBing!

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