SINGAPORE (July 20): Shares of Procurri, the provider of data centre equipment, opened at 54 cents on its first day of trading on the Mainboard, 3.6% below its IPO price of 56 cents.

Still, the counter went on to trade between 53.5 cents and 56 cents before levelling off at 55 cents at 11.06am with 7.4 million shares changing hands.

According to its Tuesday night filing, 1,796 applications for 69.64 million of public offer shares were received by the company. Given that 6.88 million shares were made available to the public for application, this means the public offer was 10.1 times subscribed.

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