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StanChart says share over allotment exercised

StanChart says share over allotment exercised

(Hong Kong) - Asian banking specialist Standard Chartered has revealed that the over allotment option for its HK$2.94 billion share offer has been fulling exercised by the placing underwriters, boosting the capital raising by another HK$372 million. Demand for the share issue was strong enough to exercise the over allotment option, which saw another 4.57 million shares sold, or around 0.4 percent of the bank's issued capital.

35 million shares were sold in the offer, which saw StanChart add a Hong Kong listing to its long held listing on the London Stock Exchange.

The Hong Kong shares have performed well so far, rising 3.6 percent on their first day of trading last week on solid investor demand.
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