New shares of Aeon Thana Sinsap (Thailand) PLC, a Thai finance firm offering purchase loans, credit cards, personal loans and factoring, 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 will formally end on Tuesday. Co-underwriting the issue are Tisco Securities, Merrill Lynch Phatra Securities, ABN Amro Asia Securities, Seamico Securities, Asset Plus Securities, National Securities and United Securities.
