{"id":57944,"date":"2017-06-15T10:23:52","date_gmt":"2017-06-15T03:23:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/world-class-globals-ipo-2-1-times-oversubscribed\/"},"modified":"2017-06-15T10:29:17","modified_gmt":"2017-06-15T03:29:17","slug":"world-class-globals-ipo-2-1-times-oversubscribed","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/world-class-globals-ipo-2-1-times-oversubscribed\/","title":{"rendered":"World Class Global\u2019s IPO 2.1 times oversubscribed"},"content":{"rendered":"


\n\u00a0
\nReceiving strong interest from both retail and institutional investors, World Class Global\u2019s initial public offering was 2.1 times oversubscribed at the close of the public offer via the Catalist board.
\nThis comes as the real estate company received 3,052 valid applications for the 136 million invitation shares offered at an issue price of S$0.26 each.
\nNotably, 3.98 million invitation shares were made available to the public.
\n\u201cWe are highly encouraged by the positive response we have received for our IPO. This clearly demonstrates the strong confidence that the investors have in WCG\u2019s investment story,\u201d said World Class Global executive director and CEO Ng Sheng Tiong.
\nIn an SGX filing, the real estate company \u2013 which undertakes property investment and property development in major cities in Australia and Malaysia \u2013 revealed that it plans to use the S$21.9 million net proceeds primarily for \u201cthe acquisition of properties and construction and other related costs in connection with the development properties, as well as working capital for the group\u201d.
\nIt noted that the net proceeds will increase by around S$2.7 million if the underwriter and placement agent exercise the over-allotment option during the relevant option period.
\nAssuming the over-allotment option is not exercised, World Class Global\u2019s post-invitation market capitalisation will stand at around S$235.5 million based on the S$0.26 issue price, it added.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…World Class Global\u2019s IPO 2.1 times oversubscribed<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Receiving strong interest from both retail and institutional investors, World Class Global\u2019s initial public...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-57944","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-f4A","jetpack-related-posts":[{"id":92955,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-shares-2-2-times-oversubscribed\/","url_meta":{"origin":57944,"position":0},"title":"PropNex shares 2.2 times oversubscribed","date":"July 2, 2018","format":false,"excerpt":"\r PropNex Realty\u2019s CEO, Ismail Gafoor. PropNex Realty, Singapore\u2019s biggest homegrown property agency, held a successful initial public offering (IPO) that attracted strong investor interest, according to an SGX filing on Friday (29 July). Overall, its shares were 2.2 times oversubscribed. There were 1,796 valid applications for the 2.125 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":143949,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spinneys-ipo-massive-demand-sees-supermarket-giant-valued-at-1-5bn-as-offering-oversubscribed-by-64-times\/","url_meta":{"origin":57944,"position":1},"title":"Spinneys IPO: Massive demand sees supermarket giant valued at $1.5bn as offering oversubscribed by 64 times","date":"May 1, 2024","format":false,"excerpt":"\r Spinneys sees $19bn of interest from local, regional and international investors ahead of IPO\r \r Source : arabianbusiness.com\r Read more...Spinneys IPO: Massive demand sees supermarket giant valued at .5bn as offering oversubscribed by 64 times","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/05\/Spinneys-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":49002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-nbd-reit-listing-oversubscribed-says-bank\/","url_meta":{"origin":57944,"position":2},"title":"Emirates NBD Reit listing 'oversubscribed', says bank","date":"March 22, 2017","format":false,"excerpt":"\r Shares in the UAE's second real estate investment trust will be listed on Nasdaq Dubai this week at an offer price of US$1.11. Emirates NBD Asset Management, the company behind the planned listing, said that the offer had been oversubscribed, receiving a \"better-than-expected response from regional investors\". The company\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":49014,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-nbd-unit-says-reit-listing-is-oversubscribed\/","url_meta":{"origin":57944,"position":3},"title":"Emirates NBD unit says reit listing is oversubscribed","date":"March 22, 2017","format":false,"excerpt":"\r Shares in the UAE's second real estate investment trust will be listed on Nasdaq Dubai this week at an offer price of US$1.11. Emirates NBD Asset Management, the company behind the planned listing, said that the offer had been oversubscribed, receiving a \"better-than-expected response from regional investors\". The company\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":158558,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/binghattis-500m-sukuk-five-times-oversubscribed-as-investors-bet-on-dubai-real-estate-boom\/","url_meta":{"origin":57944,"position":4},"title":"Binghatti\u2019s $500m sukuk five times oversubscribed as investors bet on Dubai real estate boom","date":"August 1, 2025","format":false,"excerpt":"\r Half of the orders came from international investors, reflecting growing confidence in Binghatti\u2019s expansion plans and Dubai\u2019s property market\r \r Source : arabianbusiness.com\r Read more...Binghatti\u2019s 0m sukuk five times oversubscribed as investors bet on Dubai real estate boom","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/08\/Binghatti-Mega-Plot-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":145172,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sharjah-real-estate-developer-aradas-400mn-sukuk-issuance-draws-robust-investor-demand-oversubscribed-3-5-times\/","url_meta":{"origin":57944,"position":5},"title":"Sharjah real estate developer Arada\u2019s $400mn sukuk issuance draws robust investor demand, oversubscribed 3.5 times","date":"June 12, 2024","format":false,"excerpt":"\r The Sukuk issuance saw strong demand from both regional and international investors\r \r Source : arabianbusiness.com\r Read more...Sharjah real estate developer Arada\u2019s 0mn sukuk issuance draws robust investor demand, oversubscribed 3.5 times","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/06\/Aljada-Discovery-Center-Aljada-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/57944"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=57944"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/57944\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=57944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=57944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=57944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}