Advancer Global announced that its shares have been 5.5x over-subscribed. The public tranche of 2m shares were about 98x subscribed!
It is interesting to note the intent of the management in the press release which is reflected in the balloting ratio.
"We are heartened by the strong vote of confidence from both the retail and institutional investors. The balloting ratio reflects the management's intent to distribute to a wider and diversified group of investors to participate in the future growth of the company."
You can see that management has "favored" the smaller retail investors this time round and if you apply for less shares, the probability of getting the shares is actually higher! This is probably the first time i see such balloting table favoring smaller retail investors!
Havenport Asset Management subscribed for 8.2m placement shares (consisting 19% of the IPO tranche). It's good to ...
