SGNews

$HRnetGroup(CHZ)

#ipo

Trading Price of HRnetGroup’s shares on the Mainboard is currently at 0.935.

'HRnetGroup says the public offering of 193.4 million new shares at 90 cents each was 68.3 times subscribed by retail investors.

As at the close of the offering at 12 noon on Wednesday, excluding applications for reserved shares and by connected persons, 6,037 valid applications representing 229.6 million shares were received for the 3.4 million shares available under the public offer.

This resulted in the public offer being 68.3 times subscribed with a total value of $206.6 million. The valid acceptances for the reserved shares resulted in all 440,800 reserved shares being allocated.

The recruitment agency had offered a total of 89.5 million shares for sale at its IPO. This consisted of an international placement of 85.7 million shares to global investors and a public offer of 3.8 million shares in Singapore, including 0.4 million shares which were reserved for the directors and employees of HRnetGroup.

The placement and public tranche together, excluding reserved shares, was 15.3 times subscribed.

About 103.9 million new shares were also set aside for cornerstone investors including Aberdeen Asset Management Asia, Affin Hwang Asset Management Berhad, Credit Suisse AG, Singapore Branch, Credit Suisse AG, Hong Kong Branch and Meiji Yasuda Asset Management Company.

HRnetGroup has granted to the joint bookrunners and underwriters an over-allotment option to subscribe for up to an aggregate of 11.1 million additional shares, otherwise known as the over-allotment option.

Pre-IPO investor, Vanda 1 Investments, which is managed and controlled by Heliconia Capital Management, a wholly-owned subsidiary of Temasek Holdings, will hold 1.95% of the post-offering capital of the company.'

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newkidintown :

much hype but subscribers only want a quick profits and have no intention to hold after it opens.

newkidintown :

Reply to @philiphong : asset-less... It's the network and HR consultants that are valuable

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