All valid Astrea IV applicants receive allocation

Astrea IV's Class A-1 bonds were allocated yesterday, with all 25,660 valid applicants in its $121 million retail offering - which was 7.4 times subscribed - receiving some allocation.

Astrea IV said this reflected its desire to distribute the private equity bonds to a wider retail investor base. The offering marked the first time a private equity bond was made available to retail investors.

Nearly $890 million in valid applications were received at the close of the offer at noon on Tuesday.

Astrea said 65 per cent of the bonds were allocated to applicants who subscribed for $30,000 or less, with all those applying for $4,000 or less receiving full allocations.

Subscribers who did not receive the full allocation will have their balances refunded through their bank accounts by 6pm today.

The bonds will be issued today, and retail investors can check their allocations by logging into their Central Depository accounts from tomorrow.

The retail offering followed the successful placement of three classes of bonds to institutional and other investors in Singapore and elsewhere.

Apart from $121 million in Class A-1 bonds, they comprise US$210 million (S$280 million) in Class A-2 bonds and US$110 million in Class B bonds, which will also be issued today.

Astrea IV bonds are expected to commence trading at 9am next Monday.

A version of this article appeared in the print edition of The Straits Times on June 14, 2018, with the headline 'All valid Astrea IV applicants receive allocation'. Print Edition | Subscribe