Audience Analytics IPO fully subscribed, raises S$5.5m
AUDIENCE Analytics announced on Wednesday that it had raised S$5.5 million from the full subscription of 26 million placement shares, after the public offer closed at noon on Tuesday.
The following subscribed to more than 5 per cent of the placement shares: Valerio Jaypee Vinuya subscribed to 13.8 per cent of the shares, Chong Yoke Foong (10 per cent), Ng Lee Peng (6.9 per cent), Goh Kee Tong (6.8 per cent) and GA3 Grande Consulting (5 per cent).
The company had previously announced that it would sell 26 million shares via a placement at S$0.30 each for a total of S$7.8 million. Of the 26 million, 18.2 million of the shares would be new, while 7.8 million shares belonged to the vendor.
The vendor is 60 per cent owned by Audience Analytics' chairman and managing director William Ng, while executive director Ryan Ooi owns the other 40 per cent.
Mr Ng said that the company is encouraged by the positive reception of the initial public offering (IPO) and that it is a show of investors' confidence in the company's fundamentals and prospects.
"Going forward, we will continue to leverage our extensive network to expand our existing business, to grow our new business intelligence and growth-analytics segment, and to execute our business strategies in order to achieve sustainable growth and maximise returns for our shareholders," he said.
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After the initial public offering, both Mr Ng and Mr Ooi will own a combined 84.54 per cent of the company.
The company will list on Singapore Exchange's Catalist board and is expected to begin trading at 9am on Thursday.
READ MORE: Audience Analytics to raise S$5.5m in IPO for overseas expansion, business segment growth
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