Croesus trust IPO 22.4 times subscribed
By
Mindy Tan
INVESTORS have overwhelmingly backed the listing of Croesus Retail Trust (CRT), with the total placement tranche and public offer 22.4 times subscribed.
The trust manager, Croesus Retail Asset Management, said this last night after it successfully completed its initial public offering (IPO) of about 229.2 million units at 93 cents each.
The placement tranche drew strong demand from institutional investors. Indications of interest received amounted to 4,093.2 million units, resulting in the placement tranche being about 19.7 times subscribed.
At the close of the offering to the public, 19,638 valid applications for 1,049.6 million units were received from retail investors. Based on the 21.5 million units available to the public for subscription, the public offer was about 48.8 times subscribed.
- wong chee tat :)
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