SINGAPORE (July 21): Union Gas Holdings announced that its initial public offering (IPO) on the Catalist board of Singapore Exchange drew strong support from investors with the invitation subscribed 7.2 times.

The invitation consisted of 60 million invitation shares at 25 cents per share. About 1.3 million shares were available for application in the public tranche while 58.7 million shares were available for placement placement.

The invitation closed at 12pm on Wednesday and saw 5,578 valid applications for the 1.3 million public offer shares. An aggregate of about 368.93 million offer shares were applied for by the applicants in total, with application monies received reaching about $92.2 million.

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