Stocks and Securities Limited (SSL), Lead Broker and Financial Advisor to FosRich Company Limited in the Initial Public Offering which opened at 9:00 am on December 4, 2017, and closed at 9:01 am on December 4, 2017, had advised that the basis for allotment of shares which were applied for in the recent invitation has been determined.
SSL states the Company’s prospectus invited applications for a total of 100,455,111 shares valued at $J200,910,222.00. A a total of 1,170 applications valued at approximately J$315,616,000.00 were received and of the total applications received, 1,089 applications with a total value of J$141,864,000.00 were from the general public.
SSL states that the basis of allotment of the shares in accordance with the terms and conditions set forth in the Prospectus dated November 20, 2017, is as follows:
1. Company Reserved Shares were allocated 100%
2. Lead Broker Reserved Shares were allocated 100%
3. Key Partner Reserved Shares were allocated 100%
4. General Public – the first 5,000 shares were allocated 100%; the balance in excess of 5,000 units was allocated at approximately 12.39%
