TWSE Press Release
Promate Solutions Corporation Successfully Completes Its Share Underwriting Process Through An Auction Process Today (March 7)
Publish Date︰2017/03/07 14:38
Promate Solutions Corporation initial OTC common stock underwriting was executed through auction and public subscription. 4,752,000 shares were auctioned while 1,188,000 shares were offered through public subscription. A total of 1,515 bids were made with 1,438 bids being qualified. The American auction format was used to determine bid prices. At 10 a.m. on March 7, the Taiwan Stock Exchange Corporation (TWSE) successfully completed the electronic auction process in an open fashion, resulting in all shares being auctioned.
Lowest winning bid: $68.80
Highest winning bid: $82.56
Weighted average winning bid: $71.16
According to the Taiwan Securities Association Rules Governing Underwriting and Resale of Securities by Securities Firms, the lowest bid for PSC share was at $46.73, and the public subscription price of the stock is set at $52.80. Public subscription applications were accepted from March 9 to March 13, and a public lottery will be held on March 15.