Shares & Derivatives
First Sponsor Group – Balloting Results
By Mr. IPO  •  July 20, 2014
First Sponsor Group announced its balloting results where the invitation is 1.75x subscribed. I must say this is a weak subscription.

The public tranche balloting rato are as follows:


The probability of getting some shares if you apply is more than 50%, with those applying 10 to 49 lots getting 4 lots each. 

I don't see any big names in the placement tranche other than the cornerstone that was announced earlier but not part of the invitation and this is such a poor announcement where they did not even disclose how many shares were allocated to the three "substantial applicants" below other than a cursory "more than 5%". Terrible.


I have given my rating on this stock previously. If you asked me if i am "bearish" for its IPO debut, i have to tell you that my gut feel is that it should debut above its IPO price ...
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By Mr. IPO
Mr. IPO graduated from NTU with a Bachelor in Accountancy (Honors) and started life as a lowly auditor. The audit experience not only polished up his accounting skills but also made him very skeptical about the financial records of companies. He always read the financial reports with a huge dose of salt ...
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