I rarely see such balloting announcement results where there was no accompanying 📢press release and APAC Realty Limited announced its placement and public tranche subscription rates separately🤔:
- Placement tranche of 44,503,200 shares was 13.4x subscribed
- Public Offering of 4,411,000 shares was 29x subscribed
In connection with the offering, DBS, the stabilization manager was also over-alloted 9.75m shares and will step in to stabilize the market if necessary
The placement tranche was placed out in the following manner:
and the public tranche balloting results is below.
It is also interesting to note that investors who applied for any number of shares has an equal 42% chance of getting the shares! 😎 The Issuer didn't favor the big applicants or the small ones.
Strong group of Institutional Investors
I am actually surprised that the issuance received quite a bit of interest from both hedge fund managers and traditional fund managers. The list is of managers awarded the shares are below and it doesn't include the cornerstone investors:
It is also quite rare whereby my broker said that i can still apply at the ATM even though i was given 2,000 placement shares.
Here is my application results -
Overall, i think APAC managed to attract strong interest in its placement tranche where it eventually priced at the high end of the 60-66 cents range. Good luck to those who managed to get some shares!