Dah Bang in $56.5m new issue setback

THE new issue of Dah Bang (Holdings), with Standard Chartered Asia among its underwriters, has been under-subscribed.

The printing machinery distributor has only seen a 80 per cent subscription rate for its $56.5 million issue.

It represents one of the few under-subscriptions in the territory's history of new issues.

Recent issues have not been well received in the face of a sluggish market and bearish sentiments. Luoyang Glass, for instance, was only marginally over-subscribed.

However, there have been exceptions, such as Sinocan Holdings, whose $340 million issue was over-subscribed 3.6 times.

But it is easier for a small flotation to achieve full or over-subscription.