The firm offered 24.86 million shares at 87 cents apiece at its IPO. At the same time as, but separate from, the offering, nine cornerstone investors including Asdew Acquisitions, Avanda Investment Management, Dymon Asia Multi-Strategy Investment Master Fund, GinkoAGT Global Growth Fund, Lion Global Investors, Maybank Asset Management Singapore, Nikko Asset Management Asia, Qilin Wealth Fund and Splendid Asia Macro Fund, have subscribed for or purchased an aggregate of $35.8 million.
Human resource management software firm Info-Tech says that the total demand for its 24.86 million shares in its initial public offer (IPO) is about 7.3 times oversubscribed.
At the close of the offering at noon on July 2, there were 72,055,600 applications for the 5 million public shares, which is 14.4 times oversubscribed. Under the placement for international and local institutional investors, the 19,856,000 shares were 5.5 times oversubscribed.
