OTS holdings Limited ("OTS") announced that its public offering was 233.6x subscribed. This is not surprising considering that the public offer has only 1m shares.
Managing Director of OTS Holdings, Mr. Ong Bee Chip said: "We are pleased with and thankful for the strong confidence that investors have in OTS Holdings' brand portfolio and growth plans for Asia's consumer markets. With our IPO, we intend to accelerate our expansion plans in regional markets, particularly in Malaysia and the Philippines. In addition, leveraging on our R&D capabilities, we will be looking to introduce our shelf-stable plant-based food products by early 2022."
The placement and balloting table is presented below.
Given the small float and strong demand, the chances of being allocated some shares are pretty low. You can see that investors who applied for 10,000 to 49,000 shares received the bulk of the allocation (39%) but they only have a 11% chance of getting 2,000 shares each. Investors who applied for 1m shares or more have a even lower probability of being allotted 10,000 shares.
Looking at the list of substantial applicants, you can see some familiar names in the IPO scene such as Alan Wang from Asdew Acquisitions as well as Ong Pang Aik (Lian Beng). The presence of these "smart" individuals could provide some "comfort" to investors on the sideline as they are known hold for a longer period (i.e. not sell out on the first day).
Happy Golden Bridging ... and good luck to those who received some shares!
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