Crown Bioscience IPO by auction completed
The China Post news staff
December 1, 2016, 12:02 am TWN
TAIPEI, Taiwan -- Crown Bioscience International Inc. conducted its initial public offering (IPO) of common shares by auction and public offer, according to a press release from the Taiwan Stock Exchange Co. (TWSE).
The company issued 9,447,000 shares by auction and 2,361,000 shares by public offering. A total of 768 bids were received with 743 bids being eligible. The winning bids were decided by American auction format. A public bid opening by computer was completed at the TWSE at 10 a.m. on Nov. 28. All shares were successfully auctioned off, said the TWSE.
The lowest winning bid was NT$53.10, the highest winning bid was NT$68.00 and the weighted average winning bid was NT$55.78, according to the TWSE.
According to the Taiwan Securities Association Rules Governing Underwriting and Resale of Securities by Securities Firms, the lowest bid from the competitive auction for Crown Bioscience International Inc. was NT$45.67, and the public offering price was NT$55.78.
The public subscription period started on Nov. 30 and ended on Dec. 2. The public lottery draw date is Dec. 6, said the TWSE.