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IPO Chilli Ratings

IPO Chilli Ratings
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Happy 14th Anniversary + A Free Apple Share for Mr. IPO's fans

Time flies, today is 14 years after I started the Singapore IPO blog on 07.07.07 and it feels like yesterday. I am grateful for the journey we have walked together, especially for many of you who later became my Facebook Fans. I realised that I didn't blog about the anniversary last year, and probably it is due to Covid stress! I know I should be spending more time with you but alas, too much work 😫 (when can I retire ...) Since today is a special day, I have prepared a gift 🍎  for you worth $2,000 ! 😍 If you sign up for MooMoo using my link , or click on the Claim Now below, you will be able to claim this gift (which i am sure you saw it on some other websites too 😂) To receive the 1 Apple share (which was worth US$142 last night), you need to open a Futu SG securities account from now till 2 Aug 2021 and deposit SGD 2,700 (or USD 2,000 or HKD 16,000).  My son opened the account (using other people's link 😡)and has already received Apple Share and is now trying to clear t

Econ Healthcare (Asia) Limited - Balloting Results

Econ Healthcare ("Econ" or the "Company") announced that its public offering of 1.8m shares was 86.9x subscribed. Including the 48.2m placement shares, the offering was around 4.1x subscribed.

Mr Ong Chu Poh (王再保), founder, Executive Chairman and Group Chief Executive
Officer of Econ Healthcare, said: "We are highly encouraged by the response we have
garnered for our IPO, which is indicative of the investing public's recognition of Econ
Healthcare's growth potential. We believe that our established track record of 30 years of
experience in senior care, as well as our resilient business model, will enhance the
Group's market position in the industry as we scale and expand our service offerings."
"We are committed to serve the senior community, and bring the best of care and service
to families and communities in the region. I am confident that we are in a good position
to capture the growth opportunities that exist with the growing ageing population in
Singapore, Malaysia and China," added Mr Ong.

The  balloting table is below for your reference.

Looking at the balloting table, I believe investors who applied for the IPO will be very upset and rightly so! Investors who are not allotted should feel very lucky instead.

The Company has basically made it difficult for public investors to sell their shares. Imagine you applied for 100,000 shares and you were allotted 1,500 shares. You can't even flip the shares at 30c as you can't cover your brokerage fees. Personally I think the Company should not have adopted this allocation strategy and irritate the investors. It should have allocated a more meaningful sum even if it means a lower probability of getting those shares via balloting. 

The Company also didn't announce any institutional investors coming in for this offering, which doesn't bode well for post-IPO market support as well.

Let's see how it performs on Monday...


Unknown said…
You are so right.
Anonymous said…
I have been following this blog since few months. I think the chilli rating is great. and the explanation of each new IPO is very comprehensive. too bad I didn't buy this stock. now already 44% went up.
Anonymous said…
OTS IPO u covering?
Anonymous said…
What's your take on OTS IPO?
Mr. IPO said…
Saturday will work on it. Still have time. 🤣
Anonymous said…
Hi, Mr. IPO
Thanks for sharing so much knowledge!
As I know normally the cost for selling stock minimum is S$25. The application cost is S$2. I am curious for these who are allocated with 1000 shares at price S$0.2+. Need stock price going up 10% to cover the cost?
Or is there any way to sell it with a low cost? could you recommend please?
Mr. IPO said…
I think the cheapest brokerage maybe FSMone. So you can open an account with them to sell the shares for a minimum charge of $8.80? You may want to find out if possible from their website.