Niks Professional's IPO subscribed 1.8 times

The company received 213 valid applications for 1 million public offer shares.

Niks Professional's initial public offering (IPO) was 1.8 times subscribed. Its shares were priced at $0.23 each.

At the close of its offering on noon of 25 October, the company received 213 valid applications for 1 million public offer shares. 

"These applicants applied for an aggregate of 5,873,000 Public Offer Shares, with application monies received amounting to approximately $1.35m," the company reported.

Meanwhile, its 20,800,000 placement shares, which include 3.7 million reserved shares, were 1.6 times subscribed, with the company receiving indications of interest for 32.9 million placement shares.

Also read: Niks Professional launches IPO to raise $3.3m