Sri Trang: lukewarm response to the IPO, based on the allocation results. 100% of applicants were successful. Moreover, the Placement size was decreased from 266m to 260m shares (of which 23m was taken up by the Joint Underwriters), and the public size raised to 20m shares from 14m...
The lack of an institutional following may point to a disappointing opening when Sri Trang debuts on SGX on 31 Jan, Monday.
However, if the Thai counter continues to hold up at the current THB 33.75 (S$1.42), arbitrageurs may come in to support the Spore counter. Look to enter on dips.
We have updated the IPO note to reflect the final IPO Offer Price.
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