Deluge Lists on Singapore Exchange; IPO Subscribed 3.9 Times

MT Newswires10-16

Deluge Corporation's shares were officially listed on the Singapore Exchange's (SGX) mainboard on Friday, after its initial public offering was 3.86 times subscribed, according to a filing to the bourse.

The shares opened at SG$0.63 when the company made its trading debut on the bourse.

The fire-protection specialist's offering comprised 15.6 million shares priced at SG$0.60 apiece, of which 14.8 million were placement shares, and 800,000 were for the public offer, Deluge said in a Thursday stock exchange filing.

The public offer was subscribed 11.97 times, receiving 327 valid applications for 9.53 million shares. The placement shares were 3.42 times subscribed, attracting indications of interest for 50.63 million shares, worth about SG$30.4 million.

Investors for the IPO included institutional funds Lion Global Investors and UOB Asset Management, and investors such as HBC Sheng.

SAC Capital was the issue manager for the offering and was joint bookrunner and underwriter along with Maybank Securities.

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