Overwhelming response to MindChamps IPO

Singapore

MINDCHAMPS PreSchool Limited, the largest operator and franchiser of premium preschool centres in Singapore, said its initial public offer (IPO) was met with strong demand from both institutional and retail investors.

Some 28 million offer shares, excluding the reserved shares, were 21.4 times subscribed. The public offer of two million shares met a stunning subscription of 83 times.

Priced at 83 Singapore cents per share, the IPO of 30.45 million shares comprised a placement of 28.45 million shares to investors, of which 2,438,000 shares were reserv…