EMAS Offshore Limited announced its balloting results today.

This is one of the “worst” application results i have seen whereby investors who applied for 1 to 39 lots are “fully alloted” and investors who applied more than 40 lots will be allotted some shares but it is “bao tiok” ~ 100% will get it. It is “bao tiok” and not “bao jiak”.
Do note that the shares can be fully arbitrage and that i had given it a zero chilli rating. The oslo price as of today remained at S$1.01 thereabouts. Be prepared for a rout on its listing next Wednesday…