Parkson IPO

Parkson Asia prices $109 million Singapore IPO

The department store operator attracts high-quality, but price-sensitive, demand, while Zhong Da Mining decides to halt its pre-marketing efforts after just three days.

Parkson Retail Asia is set to raise S$138.2 million $109 million from its Singapore initial public offering after fixing the price just above the bottom of the range. The company, which is an operator of department stores in Malaysia, Vietnam and Indonesia, still has to complete the retail offering, but with the institutional portion multiple times covered, that won’t have any impact on the overall deal size.

According to a source, approximately 65 investors participated in the institutional tranche, which accounted for 92.6% of the deal. About two-thirds of the demand came from long-only funds, which shows that funds do have capital to invest. The fact that Parkson Asia is...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222