After the institutional tranche closed Friday, Pacific Shipping Trust PST fixed the price of its offering at $0.45 per unit for a total deal size of $99.9 million. The Singapore listing candidate had initially hoped to raise up to $115.4 million by pricing its IPO between $0.50 and $0.52 per unit, but with two days left of bookbuilding û on a day when Asian stock markets took a heavy beating û the range was lowered to $0.45 to $0.48.
The book wasnÆt fully covered at the low end...
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