CTS Global IPO Allocation Poll results and discussion
A grand total of 69 Barkadans (nice) have responded to my CTS Global [CTS 1.00] IPO Allocation Poll to let me know how many shares they requested, and how many they received (if any). Altogether, the 69 Barkadans requested 12,266,000 shares in CTS, and reported receiving 11,466,000 shares.
That’s an allocation rate of over 93%, which is very good. The average reporting Barkadan requested over P170,000 worth of CTS stock.
The largest request was for 2 million shares, and the smallest was for 500 shares.
The only Barkadans that reported receiving less than they requested were dealing with the following brokerages: A&A Securities, JAKA Securities, Abacus Securities, BDO Securities, COL Financial, and FMS. CTS and its underwriter, SB Capital, have not mentioned anything about over-subscription of any tranches yet.
While some of the brokers appear to be reporting over-subscription situations, I don’t have any info (yet) to suggest that the 10% PSE EASy tranche is over-subscribed, nor whether the institutional tranche is over-subscribed.
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The more data I get the better, so anyone interested in letting me know can do so anonymously by clicking this link.
If you leave your email, you’ll be entered to win a P500 Grab Food Gift Card that will be drawn on the CTS Global [CTS 1.00 pre-IPO] IPO day.
That said, it looks like we’re dealing with an IPO that won’t end up being profoundly over-subscribed like some of the other high-flying piso IPOs in recent memory, like MerryMart [MM 1.79] (2x over-subscribed; up 80% since IPO) and Solar Philippines NEC [SPNEC 1.79 0.56%] (2x over-subscribed, up 80% since IPO).
I’m not sure what’s going to happen on the first day of trading, but thankfully we won’t have to wait that long to find out! The IPO is just two days away.
As I usually try to do, I’ll do an IPO prep/review piece on CTS tomorrow.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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