Public tranche in Ayondo IPO nets subscription of 4½ times

Singapore

LOSS-MAKING social trading broker Ayondo's initial public offering (IPO) drew roughly four and a half times as many applications as there were shares in the public tranche, the Catalist wannabe said on Friday.

There were 875 valid applications for about 40.36 million offer shares, compared with the 8.9 million actually available. In the end, 561 applicants succeeded in snagging shares.