All-Link Air & Sea IPO Draws Strong Demand; Opens at SG$0.53
All-Link Air & Sea (SGX:ALK) received strong investor demand for its initial public offering of 37.9 million shares, according to a Wednesday filing with the Singapore Exchange.The offering comprises 35.8 million placement shares and 2.1 million public offer shares at SG$0.53 each, raising gross proceeds of about SG$20.1 million.The public offer was subscribed about 4.85 times with 409 valid applications for a total of 10.2 million shares.Meanwhile, the placement was about 1.24 times subscribed and drew indications of interest for around 44.3 million shares.The company is a regional logistics solutions provider, offering end-to-end logsitics, freight forwarding and supply chain management services.All-Link Air & Sea shares opened at SG$0.53.
