Investors reconfirm 98.8% of Sun Art Retail allocation

Retail investors will be allocated 18.7% of Sun Art's $1 billion IPO after reconfirming 93.3% of their original allocation after the detection of a prospectus error. The process results in an overall take-up ratio of 98.8%.

<div class="ArticleImageCaption" style="border-width: 0px; text-align: right; padding: 0px; font-size: 7pt; color: rgb(119, 119, 119);"> Photo: AFP</div>

Anette Jönsson

July 22, 2011

Most retail investors stuck with their earlier decision to invest in Sun Art Retail Group’s initial public offering after the China-based hypermarket operator was forced to delay its trading debut and reconfirm all retail orders due to an error in the original prospectus.

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