Martin Lee @ Sg
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Hyflux Preference Shares Results

The Public Offer attracted strong interest and was approximately five times over-subscribed.

Due to the overwhelming demand, the Company has exercised the Upsize Option in full, resulting in an increase of the total Offer size to S$400,000,000 in aggregate liquidation preference of the Class A Cumulative Preference Shares. The Public Offer, the Reserve Offer and the Placement accounted for S$200,000,000, S$10,000,000 and S$190,000,000 respectively of the total Offer size of S$400,000,000.

At the close of the Placement, applications were received for approximately S$1,400,000,000 in aggregate liquidation preference of the Class A Cumulative Preference Shares. Under the Placement, more than 70% of the Class A Cumulative Preference Shares was allocated to private banks, and the remaining to asset managers and banks.

The Class A Cumulative Preference Shares are expected to be issued on 25 April 2011 and listed on the Main Board of the SGX-ST on and from 9.00 a.m. on 26 April 2011, subject to the SGX-ST being satisfied that all conditions necessary for the commencement of trading in the Class A Cumulative Preference Shares have been fulfilled. The Class A Cumulative Preference Shares will be traded in board lots of 10 Class A Cumulative Preference Shares. Dealing in and quotation of the Class A Cumulative Preference Shares on the SGX-ST will be in Singapore dollars.

The approval-in-principle from the SGX-ST obtained on 12 April 2011 for the listing of and quotation for the Class A Cumulative Preference Shares is not to be taken as an indication of the merits of the Class A Cumulative Preference Shares, the Offer, the Company and/or its subsidiaries.

At the close of the Public Offer, valid applications were received for S$1,011,718,000 in aggregate liquidation preference (or 10,117,180) of the Class A Cumulative Preference Shares. To ensure a reasonable spread of the Class A Cumulative Preference Shareholders, the Company has decided on the following basis of allotment for the Class A Cumulative Preference Shares under the Public Offer:

(Number of shares applied) : (Number allocated)

100 : 30
110 to 290 : 50
300 to 490 : 70
500 to 990 :110
1,000 to 1,990 : 180
2,000 to 2,990 : 340
3,000 to 4,990 : 490
5,000 to 7,490 : 730
7,500 to 9,990 : 1,200
10,000 to 19,990 : 1,450
20,000 and above : 3,170

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8 comments
Kevin says 8 years ago

Hi,

I got $7000 in refund to my bank account. Does that mean that I got $3000 worth of shares? Thanks.

Reply
    lioninvestor says 8 years ago

    Dear Kevin,

    As the table implies, all those who applied for 100 shares will be given 30. (unless they made an invalid application)

    Reply
Danny says 8 years ago

Martin, I applied for the share through two bank accounts under the same CDP account. Would that invalid my application all together, or, would it be considered as one application combining funds from both accounts?

Reply
    lioninvestor says 8 years ago

    Hi Danny,

    Unfortunately, that will be counted as an invalid application and will void both purchases.

    “Only one application may be made for the benefit of one person for the Public Offer Preference Shares in his own name. Multiple applications for the Public Offer Preference Shares will be rejected.”

    Reply
      Danny says 8 years ago

      Thanks Martin. Sad to hear that, but look forward to buy some shares in the open market after tomorrow 🙂

      Reply
Danny says 8 years ago

Hi,

How to interpret the result? Does that mean if I put up $10000 application, I will get 30 shares for sure?

Reply
    lioninvestor says 8 years ago

    Hi Danny, your are right. you get $3000 worth of shares.

    Reply
      Danny says 8 years ago

      Thanks, Martin. That’s what I thought. But, my funds for the application has been returned in full amount back to my bank account the next day the application was closed. Does that mean I have no shares allocated at all?

      Reply
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