All-Link Air & Sea IPO draws nearly 5 times demand on SGX debut

The IPO raised gross proceeds of approximately $20.1m.

All-Link Air & Sea Limited saw its initial public offering (IPO) drew applications for 10,181,800 shares against just 2,100,000 available, 4.85 times oversubscribed after it listed on 5 August.

The 409 valid applications for the public offer tranche brought in application monies of approximately $5.4m, against an offering price of $0.53 per share.

Meanwhile, of the 35,824,500 placement shares available, indications of interest came in for approximately 44,348,323 shares.

Across the full 37,924,500 offering shares, total demand came to approximately 1.44 times the shares available.

At $0.53 per share, the IPO raised gross proceeds of approximately $20.1m.

The company plans to use the proceeds primarily for expanding operations, acquisitions, technology and digital investments, and payments to its freight forwarding operations.

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