JustCo’s IPO 3.4 times subscribed at 94 cents per share

Gerine Tang Yi Qian

05/21

The shares are expected to commence trading on the Mainboard of the Singapore Exchange at 9am on May 22.The initial public offering (IPO) of Singapore-grown flexible workspace operator JustCo, ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJustCo’s IPO 3.4 times subscribed at 94 cents per share\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Gerine Tang Yi Qian</strong><span class=\"h-time small\">2026-05-21 13:21</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>The shares are expected to commence trading on the Mainboard of the Singapore Exchange at 9am on May 22.The initial public offering (IPO) of Singapore-grown flexible workspace operator JustCo, ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/ipo/justcos-ipo-34-times-subscribed-94-cents-share?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">网页链接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://www.theedgesingapore.com/news/ipo/justcos-ipo-34-times-subscribed-94-cents-share?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Gerine Tang Yi Qian</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IPO","symbol_name":"Renaissance IPO ETF","start_time":0,"source_url":"https://www.theedgesingapore.com/news/ipo/justcos-ipo-34-times-subscribed-94-cents-share?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2637369843","we_media_id":null,"thumbnails":[],"rights":{"source":"edge_highlight","url":"https://www.theedgesingapore.com/news/ipo/justcos-ipo-34-times-subscribed-94-cents-share?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2637369843","pubTimestamp":1779340904,"columns":[],"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"The shares are expected to commence trading on the Mainboard of the Singapore Exchange at 9am on May 22.","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IPO":"Renaissance IPO ETF","IPOS":"Renaissance International IPO ETF","SPCX":"SPAC and New Issue ETF"},"translate_title":"JustCo首次公开募股认购3.4倍，每股94美分","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SPCX":1.5,"IPO001":1,"IPO":1,"IPOS":1.5},"content_text":"The shares are expected to commence trading on the Mainboard of the Singapore Exchange at 9am on May 22.The initial public offering (IPO) of Singapore-grown flexible workspace operator JustCo, comprising approximately 32.09 million shares priced at 94 cents each, was 3.4 times subscribed. \nTogether with $69.8 million in secured cornerstone commitments, the offering raised about $100 million. The IPO comprised approximately 32.09 million offering shares priced at 94 cents each, including approximately 25.79 million placement shares and 6.3 million public offer shares.\nThe shares are expected to commence trading on the Mainboard of the Singapore Exchange at 9am on May 22.\nThe international placement tranche drew strong institutional demand and was about 3.6 times subscribed, representing $91.9 million in demand. \nMeanwhile, the Singapore public offer was 2.7 times subscribed after the group received 1,069 valid applications for 16.96 million shares, amounting to approximately $15.9 million.\nIn addition, nine cornerstone investors have agreed to subscribe to nearly 74.2 million shares at the offering price, totalling approximately $69.8 million. This represents 70% of the total number of shares in issue immediately after completion of the offering.\nThese cornerstone investors include JP Morgan Asset Management, Amova Asset Management Asia, Fullerton Fund Management and Avanda Investment Management — four fund managers that have been appointed under the Monetary Authority of Singapore’s Equity Market Development Programme.\nThe remaining five cornerstone investors are Maybank Asset Management Singapore, Maybank Securities, Taiwan-incorporated investment firms Farglory International Investment and Jang Dah Fibre Industrial, and Wei Chun Chieh, the principal of a single family office.\nFounded and headquartered in Singapore, JustCo operates 54 centres across 12 cities in Asia Pacific, including Singapore, Seoul, Tokyo, Sydney and Melbourne. The group manages about 1.89 million sq ft of net lettable area and around 37,500 workstations.\nJustCo intends to use the net proceeds for strategic investments, capital expenditures, general corporate purposes and working capital to support expansion plans in existing and new markets.\nThe group plans to open 28 new centres in 2026, four of which have already opened, with a core focus on Japan to accelerate its regional presence. This is expected to increase JustCo’s total operational footprint to approximately 78 centres by the end of 2026.\nExecutive chairman and CEO Kong Wan Sing says: 「The successful close of our IPO is a reflection of market confidence in our business, comprehensive multi-brand offering, and proven operational track record. We are deeply grateful for the strong all-round support from Cornerstone, institutional, strategic and retailer investors throughout this journey.」 \n「Having established our presence in the markets that we operate in and built a strong financial position, we are now at an inflection point and intend to execute a well-calibrated strategic expansion plan. As we begin this new chapter as a publicly listed company, we remain focused on growth, and delivering long-term value to our members, partners, and shareholders,」 adds Kong.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}