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The Assembly Place - Balloting Results

This is probably one of the most usual press releases that went alongside the SGX announcement of the balloting results. The Company released a full presentation deck , which is actually quite informative, with information of upcoming pipeline etc (probably the Company felt that it is safer to release this after the IPO closes and not before). The balloting table is as follows: The IPO has drawn strong interest from prominent institutional funds such as Avanda Investment Management (as investment manager for and on behalf of its fund(s)) and Lion Global Investors Limited (as investment manager for and on behalf of its clients), along with prominent investors, including Mr Han Seng Juan, Mr Rudolf Jurgen August Rolles and Mr Chong Soon Kong @ Chi Suim2 , underscoring strong confidence in TAP's investment proposition. Separate from the Invitation, cornerstone investors, namely Apricot Capital Pte. Ltd., Asdew Acquisitions Pte. Ltd., Cache Capital Pte. Ltd., ICH Synergrowth Fun...
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Koufu Group Limited - Balloting Results


Koufu Group Limited ("Koufu" or the "Group") announced that its IPO received strong support from institutions, high net worth and retail investors. The public offer was 17x subscribed. 

Mr Pang Lim (庞琳), Koufu's Executive Chairman and Chief Executive Officer, said, "This
is a strong vote of confidence for our Group and a recognition of our established track
record and growth plans. We would like to take this opportunity to thank our investors for
their support, as we strive to bring the business to new heights and continue to keep to
our core values: "Better Food", "Better People" and "Better Life" as we grow in Singapore
and overseas."

Koufu also announced that it received strong indications of interest for the Placement Shares where the placement tranche was around 6.5x covered. I would view this as a strong order book. The over-allotment option of 18m shares were also exercised, meaning that DBS will step in to stablise the market where necessary. 

The balloting table for the public offering is below. If you apply for 100,000 shares, you will have a 50% chance of getting 10,000 shares.


It is also good to see that the 3 independent directors, siblings and kids of the founders also put in substantial placement orders.

Dymon Asia Equity Master Fund, a hedge fund, also subscribed for 2.6m shares in the placement tranche. 

My Views

It is a good set of placement and IPO results that showed strong support from the board and management's relatives. With the over-allotment being exercised as well, i believe the debut will be decent. 

Happy Koufuing!

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