Niks Professional’s initial public offering (IPO) shares of 21.8 million new shares have been oversubscribed. The shares were priced at 23 cents each.
At the close of its offering on Oct 25, the group received 213 applications totalling some 5.9 million shares for the 1 million public offer shares. The application monies came up to around $1.35 million, making Niks’ public tranche 5.9x subscribed.
There were indications of interest received for 32.9 million placement shares for the 20.8 placement shares. The indications had a total value of $7.56 million, making the placement tranche 1.6x subscribed.
The total IPO was 1.8x subscribed overall.
