Kimly's IPO 8.3 times subscribed

KIMLY said on Friday its Catalist initial public offering (IPO) to raise some S$40 million was about 8.3 times subscribed.

The subscription figure excludes subscriptions for placement shares by directors, substantial shareholders and their associates.

The coffeeshop operator had offered 173.8 million new shares at S$0.25 apiece.

Shares of Kimly will begin trading at 9am on Monday.