More often than not, when companies launch their IPOs, their top honchos would be most eager to meet up with both investors and the media to drum up interest in their offering with a rousing presentation.

However, when Nanofilm Technologies International launched its IPO last October, the company’s management skipped the meet-and-greet with the media, presumably confident that the issue is well supported by a long list of cornerstone investors with many more other institutional investors queuing up, eager to get their hands on some shares as well.

Indeed, the issue was 23 times subscribed and from the offer price of $2.59, the share price climbed steadily, helped along by a growing number of sell-side coverage with ever-higher target prices. On July 26, Nanofilm’s share price hit an all-time of $6.76, valuing the company at more than $4.4 billion. Along the way, company founder and executive chairman Shi Xu earned a place among Singapore’s wealthiest, thanks to his total direct and deemed interest of around 54% of the company.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook