Weak demand to affect ICreate stock

Subscribers for shares in the public offer of 74,062,500 Ordinary Shares in iCreate received a high percentage of the amount applied for, except for applications with more than 400,000 units.
According to Sagicor Investments, the lead broker for the issue, all the applications received, the first 400,000 units in full with those with balances in excess of 400,000 units for the General Public Pool was allocated approximately 1.32 percent of the excess.
This is not great news for many of the investors in the issue as they could see a fall in the price of the stock as there seem to be inadequate demand for the stock at the issue price of $1.01 before it moves higher.
The stock is scheduled to be listed on the Junior Market of the Jamaica Stock Exchange.

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