TWSE Press Release
Shin Foong IPO by auction successfully completed today (June 1)
Publish Date︰2017/06/01 15:25
Shin Foong Specialty and Applied Materials Co conducted its initial public offering (IPO) of common shares by auction and public offer. The company issued 7,142,000 shares by auction and 1,785,000 shares by public offering. A total of 1,227 bids were received with 1,165 bids being eligible. The winning bids were decided by American auction format. A public bid opening by computer was completed at TWSE at 10 a.m. on June 1. All shares were successfully auctioned off. The results are shown below.
Lowest winning bid: TWD 71.00
Highest winning bid: TWD 84.85
Weighted average winning bid: TWD 74.83
According to the Taiwan Securities Association Rules Governing Underwriting and Resale of Securities by Securities Firms, the lowest bid from the competitive auction for Shin Foong was TWD 60.18, and the public offering price is TWD 68.00. The public subscription period started on June 3 and ended on June 6. The public lottery draw date is June 8.