First Futu IPO offering: dissecting where the shares went
The six cornerstone investors who were allocated more than 5% of the offering are seasoned investors, and they were given close to 52% of the placement. The main placee is listed Excelpoint and the boss, Albert Phuay who were given 4m shares in total.
The whole issue was over 3x subscribed, receiving demand for $78m worth. Not bad for the first Futu Spore IPO offering!!
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