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Kimly announced that its IPO of 173.8m shares were collectively 8.3x subscribed on an overall basis. My back of envelope computation showed that the public tranche was 336x subscribed.
For investors who applied for the public tranche, the balloting table is presented below:
Investors who applied for 100k shares will have a 2:25 chance of getting 6,000 shares.
The insiders, including the relatives of the founders and Heliconia (via Vanda 1 Pte Ltd) supported the IPO strongly with Vanda 1 subscribing for an additional 27.7m shares in addition to the share it held currently.
“We are very encouraged by the positive response to our IPO from the investors, and we believe their warm reception underscores the strength of Kimly’s business fundamentals and our future growth potential. Going
forward, we will be focusing on using technology to increase our operational efficiencies as well as to cater to …