JustCo’s IPO, dated May 22, was priced at 94 cents and saw an overall subscription rate of 3.4 times. Together with $69.8 million in secured cornerstone commitments, the offering raised about $100 million.
JustCo’s (SGX:JCO
) stabilisation manager, DBS Bank, has announced that it has purchased a total of 5.319 million shares in the company to date and has ceased price stabilisation action as of today’s closing.
“As the total number of shares which had been over-allotted in connection with the offering has been fully covered by the purchases made under the price stabilising action, we will not be exercising the over-allotment option granted by Sing Long Investments to the joint bookrunners and underwriters,” the bank says.
