Procurri Corp's new shares under public offer tranche 10.1 times subscribed

PROCURRI Corp's public offer of 6.88 million new shares drew a subscription rate of 10.1 times at the close of the offering at noon on July 18.

It received 1,796 valid applications and application monies amounting to some S$39.0 million for the new shares under the public offer tranche.

The 62 million new shares offered under the placement tranche and allocated to institutional and other investors were fully subscribed with application monies received amounting to some S$34.7 million.

Overall, the offering was 1.9 times subscribed.

Procurri is expected to make its debut on the Singapore Exchange main board on Wednesday and upon listing, will be 46.5 per cent owned by Catalist-listed DeClout Limited.