SINGAPORE-based lighting specialist JK Yaming International Holdings says the public tranche of its initial public offering was 10.2 times subscribed. Yaming, which makes and distributes lighting products, wire harnesses and low-voltage electrical accessories and devices, offered 52 million new shares at 25 cents each for a listing on the main board of the Singapore Exchange. The shares debut today.

The company said the reserved tranche of 2.5 million shares for management and employees was fully subscribed. The IPO comprised 2.6 million shares for the public, 46.9 million shares for institutional investors and 2.5 million reserved for management and employees. The par value of each share is 20 cents. Yaming expects to net $11.3 million from the IPO, which will be used to finance expansion plans, including extending production lines in China and acquiring premises and assets in Singapore. - Reuters

《The Business Times》