Alpina Holdings, a local contractor providing integrated building services (IBS), mechanical and electrical (M&E) engineering services, and alteration and addition (A&A) works to public and private sector projects, announced that its initial public offering (IPO) of 37.0 million shares at 31 cents each on the Catalist Board of Singapore Exchange (SGX) has attracted strong interest from investors.
At the close of the application list at 12.00pm on Jan 26, all 37.0 million placement shares, comprising of 32.0 million new shares and 5.0 million vendors shares, were validly and fully subscribed for and/or purchased. Through this IPO, Alpina managed to raise some $11.5 million.
Among others in the investment community, investors such as Mah Bow Tan, Pheim Asset Management and Eternal Glade Investment have applied for and been allotted 5.0% or more of the placement shares.
