iFast IPO 12.4 times subscribed, debuts Thursday

Singapore

INTERNET-BASED fund distribution company iFast Corporation debuts on the Singapore Exchange (SGX) mainboard at 9am on Thursday with its initial public offering (IPO) about 12.4 times subscribed.

For the 2.8 million shares available to the public at S$0.95 each, there were 2,437 valid applications for 46.7 million shares, the company said in an announcement on Wednesday evening. Meanwhile, for the 30 million placement shares for institutional and other investors, there were indications of interest for 12 times that.