Jeweller Soo Kee Group's IPO 1.1 times subscribed

Jeweller Soo Kee Group's initial public offering of 112.5 million shares of S$0.30 each was 1.1 times subscribed, according to an announcement on Wednesday evening by issue manager UOB.

It received valid applications for almost 30 million shares compared to nine million shares offered to the public, a ratio of 3.3 times.

Meanwhile, the placement tranche of 103.5 million shares was fully placed out.

A total of S$33.75 million was raised.

The market capitalisation of the company thus stands at around S$168.8 million, based on the post-IPO share capital of 562.5 million shares.

Shares will begin trading on the Catalist board at 9am on Thursday.