SGX has just released a statement today on plans to allow more retail investors to participate in IPOs. That means raising the allotment available for the public tranche and hopefully, increase liquidity of IPO stocks early on (since IPOs typically have a placement and cornerstone tranche offer that already stipulates certain embargo on selling within a specific period) and more importantly to allow a greater chance of being allocated successfully.
Proposal details in summary (
http://bizdaily.com.sg/newsite/sgx-proposes-to-raise-ipo-shares-available-for-retail-investors/)
- Minimum of 5% of total underwritten shares to be available under the public offering tranche
- Clawback mechanism to allow shares to be transferred between public and placement tranches to better cater to demand from either side.
Public are welcome to share views and feedback to SGX on the proposed changes.
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