HRnetGroup launches $174.1 mil IPO at 90 cents per share

SINGAPORE (June 8): Local recruitment firm HRnetGroup has lodged a prospectus for an initial public offering (IPO) to raise $174.1 million for 193.4 million shares, at an offer price of 90 cents per share.

About 85.7 million shares will be offered under the placement tranche while 3.8 million shares will be offered under a public tranche, including 440,800 shares reserved for the directors and employees of the company and its subsidiaries.

Another 103.9 million shares have been taken up by cornerstone investors including Aberdeen Asset Management Asia, Credit Suisse AG’s Singapore and Hong Kong branches, FIL Investment Management (Hong Kong), and TechnoPro Holdings.

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