Business Services Industry
Shares in Thai Finance Firm Oversubscribed Almost Five-Fold on First Day.
Knight Ridder/Tribune Business News, November, 2001
By Krissana Parnsoonthorn, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Nov. 17--New shares of Aeon Thana Sinsap (Thailand) Plc were overwhelmingly oversubscribed yesterday at the launch of the consumer finance firm's initial public offering, according to lead underwriter Capital Nomura Securities.
"Demand from investors for Aeon shares was overwhelming," said Somphop Keerasuntonpong, the deputy general manager for corporate finance at Capital Nomura.
Demand was four to five times higher than the 9.8 million shares offered, priced at 51 baht per share against a par value of five baht.
Another 200,000 shares were offered to Aeon employees at a price of 41 baht each.
Aeon's subscription period for the IPO...
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