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iFast raises $105 mil in oversubscribed share placement

Jovi Ho
Jovi Ho1/11/2022 08:11 AM GMT+08  • 4 min read
iFast raises $105 mil in oversubscribed share placement
The placement drew over $150 million in total subscription, more than double the initial base deal size of $75 million.
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iFast Corporation has raised $105 million via a placement of 14 million new ordinary shares to institutional and accredited investors, announced the wealth management FinTech platform on Jan 11.

The placement was oversubscribed with over $150 million in total subscription, more than double the initial base deal size of $75 million.

The issue price of $7.50 is at the top end of the placement’s price range of $7.30 to $7.50. This represents a discount of approximately 4.5% to the day end price of $7.85 on Jan 7 and a discount of approximately 7.4% to the volume weighted average price of $8.10 that same day.

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