Mooreast Holdings' IPO 1.3 times subscribed

The Edge Singapore
The Edge Singapore 11/23/2021 10:24 PM GMT+08  • 2 min read
Mooreast Holdings' IPO 1.3 times subscribed
Trading will start on Nov 24
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Mooreast Holdings, which specialises in providing mooring systems for the offshore and renewable energy industries, has received strong demand for its IPO which raised $8.5 million in gross proceeds.

A total of 38.85 million IPO shares were sold at 22 cents a share.

The retail tranche of 800,000 shares was 17.3 times subscribed whereas the placement tranche of 38.05 million shares was 1.3 times subscribed.

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