SINGAPORE (June 29): shopper360 on Wednesday completed its placement of 38 million shares, comprising 18 million new shares and 20 million vendor shares, for 29 cents per share to raise gross proceeds of approximately $11 million.

ZICO Capital is the sponsor and issue manager for the initial public offering (IPO), with UOB Kay Hian as the placement agent.

In a press statement on Thursday, the shopper marketing services provider in Malaysia’s retail and consumer goods industries notes that the placement “attracted strong interest from institutional investors and the investing community”.

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