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...
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