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Eagle Hospitality Trust: Balloting Results and IPO Price Drop – What went wrong?
By Financial Horse  •  May 25, 2019

Okay, so I was planning to write another article today. Then I heard about the absolute disaster that was Eagle Hospitality Trust’s IPO, and I knew I had to drop everything and write on this.

In all my years’ experience in capital markets, and as an investor in Singapore, I have never seen an SGX main board listing, and a REIT with DBS as the lead issue manager, flop this hard. That’s how bad it was.

Basics: What Happened Balloting Results

I’ve extracted this from the Eagle Hospitality Trust Balloting Results Announcement (emphasis mine):

At the close of the Public Offer at noon on 22 May 2019, excluding applications from connected persons (as defined in the Listing Manual) and persons mentioned in Rule 240 of the Listing Manual, there were a total of 1,528 valid applications for an aggregate of 18,308,100 Stapled Securities out of the 44,871,000

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By Financial Horse
Financial Horse was founded with a simple goal – To provide high quality financial commentary, in plain English. He is a firm believer in Einstein’s quote that “If you can’t explain it to six-year-old, you don’t understand it yourself.” Too much of finance is shrouded in complex jargon, and Financial Horse aims to demystify financial investments.
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