Coliwoo closes at 58.5 cents in SGX debut, 2.5% below IPO price

Shares of co-living operator Coliwoo fell 2.5 per cent below their initial public offering (IPO) price on their first day of trading on the Singapore Exchange.

- Benjamin Lim Correspondent

The counter on Nov 6 opened at 9am at 61.5 cents, above its IPO price of 60 cents. It dropped to 58.5 cents at 11.29am and closed at that rice.

Coliwoo had raised about $101 million by the time its IPO closed at noon on Nov 4. It offered 80.3 million shares, including 75 million under the placement tranche and 5.3 million on public offer.

The company received 2,739 valid applications subscribing to nearly 110 million shares for its public offer shares amounting to about $65.9 million, which translates to the IPO being approximately 20.7 times subscribed.