Derrimon Trading Company, the Junior Market’s latest IPO was oversubscribed having closed on the morning the issue opened. Data released by the broker to the issue Mayberry Investments indicate that there was just a relatively small over subscription. The broker confirmed today that the company has completed all applications in respect of the Initial Public Offering.
The bases of allotment | Board Reserved Applications, Employee Reserved Applications, Mayberry Clients Reserved Application and Key Partners Reserved Applications were fully allocated and the Public pool receives the first 50,000 shares in full and amounts and approximately 77.622% were allocated for excess amounts applied for over 50,000 units.
The amount of shares that were available to the general public was only 8,568,486. The amount suggests that the level of oversubscription did not exceed 1.7 million units.
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[…] Derrimon Trading went public last year December and raised $102.5 million in fresh capital in an IPO offering for working capital, expansion and cost of the IPO estimated not to exceed $9.5 million, the prospectus stated. […]