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

[SINGAPORE] All-Link Air & Sea’s initial public offering on the mainboard of the Singapore Exchange saw its public tranche of 2.1 million shares approximately 4.85 times subscribed.

By the close of the offering at noon on Monday (Aug 3), 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, said the regional logistics solutions provider in a bourse filing on Tuesday.

CGS International is the issue manager, underwriter and placement agent for the IPO.

The company said that about 44.3 million placement shares received indications of interest, resulting in the placement being approximately 1.24 times subscribed.

Based on the 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.

Substantial demand was received from three investors, with each subscribing for more than 5 per cent of the offering shares: Lion Global Investors, Singapore Enterprises and businessman Kuah Ann Thia, said the company.

The IPO has raised gross proceeds of about S$20.1 million. All-Link plans to use the proceeds for expanding operations, including setting up new subsidiaries and offices, and pursuing strategic acquisitions, among other things.

The board intends to recommend dividends of no less than 30 per cent of the group’s net profit for FY2026, FY2027 and FY2028.

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All-Link will start trading on SGX mainboard on Wednesday.