All-Link opens at S$0.53 on SGX debut, matching IPO price

[SINGAPORE] Shares of logistics solutions provider All-Link Air & Sea opened at S$0.53 on Wednesday (Aug 5), unchanged from its initial public offering price.

This marks Singapore Exchange’s (SGX) ninth listing and seventh mainboard debut this year. In July, Ambiq Micro , EGP Energy and Foundation Healthcare were listed on the mainboard.

The debut follows the close of its IPO on Monday, when its public tranche of 2.1 million shares were around 4.85 times subscribed. The group had offered a total of 37.9 million shares, comprising the 2.1 million public offer shares and 35.8 million placement shares.

By the close of the offering, the company had received 409 valid applications for the 2.1 million public offer shares.

These applicants applied for an aggregate of 10.2 million public shares, with application monies received amounting to about S$5.4 million.

Meanwhile, about 44.3 million placement shares received indications of interest, resulting in the placement being around 1.24 times subscribed.

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All-Link’s public offer of 2.1 million shares 4.85 times subscribed

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Based on valid applications received for the public offer shares and the aggregate indications of interest received for the placement shares, the offering is about 1.44 times subscribed.

The IPO has raised gross proceeds of about S$20.1 million.

All-Link said it intends to use the net proceeds mostly to service new customers as well as increase volume from existing ones. It is also looking to invest in technology and digital capabilities to improve operational efficiency and scalability.