MobileOne makes it two

The institutional book for a 600.5 million share offering in MobileOne (M1) closed two times oversubscribed yesterday (Tuesday) with pricing settled at S$1.32, towards the bottom end of an S$1.25 to S$1.52 indicative range. Led by ABN AMRO and UBS Warburg, the offering represents 57.2% of the company's issued share capital pre shoe (65.8% post) and should raise proceeds of roughly S$790 million ($447 million).