COMMERCIAL PROPERTY | Staff Reporter, Singapore

Wing Tai's perpetual bonds four times oversubscribed

Its order book amounted to $750m with over 55 accounts.

Wing Tai Holdings' (Wing Tai) 4.35% perpetual bonds were more than four times oversubscribed.

Wing Tai's order book received over $750m from over 55 accounts, 70% of which was from private banks, whilst the rest consisted of funds, insurance and banks.

According to KGI, 83% of the demand came from Singapore. The other 17% from Hong Kong and other jurisdictions.

"Net proceeds from the issue will be used by the group for its business activities, including the financing of the group's business expansion," KGI said.

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