{
  "id": 14731864,
  "title": "Deluge IPO 3.86 times subscribed ahead of SGX debut",
  "url": "https://urgent.news/2026/10/15/deluge-ipo-3-86-times-subscribed-ahead-of-sgx-debut",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-15T15:26:49.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/deluge-ipo-3-86-times-subscribed-ahead-sgx-debut"
  },
  "original_language": "en",
  "account": "The fire protection company Deluge Corporation's initial public offering (IPO) saw an impressive 3.86 times subscription ahead of its debut on the Singapore Exchange (SGX) on Friday, October 16. The offering comprised 15.6 million shares priced at S$0.60 each, with 14.8 million allocated to the placement tranche and 800,000 to the public offer. The public offer attracted 11.97 times subscription, with 327 valid applications for 9.53 million shares. The placement tranche was 3.42 times subscribed, garnering indications of interest for 50.63 million shares worth about S$30.4 million. Notable investors included Lion Global Investors and UOB Asset Management, while cornerstone investors subscribed for 23.4 million new shares totaling approximately S$14.0 million. The gross proceeds from the offering and cornerstone tranche amount to about S$23.4 million. After accounting for listing expenses of S$3.27 million, net proceeds are projected to be around S$20.1 million. Deluge intends to utilize the funds for infrastructure development, operational enhancements, strategic partnerships, and potential acquisitions, with an initial focus on the regional expansion in Malaysia.",
  "summary": "The fire protection specialist’s public offer is nearly 12 times subscribed",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}