Singapore's Nanofilm IPO hugely oversubscribed

Nanofilm Technologies International's IPO is set to be the largest on the Singapore Exchange in recent years, excluding those from real estate investment trusts for which the exchange has become a global hub over the past decade.

SINGAPORE: The bookbuild portion of Singapore's Nanofilm Technologies International's up to S$510 million ($375 million) initial public offering (IPO) has been subscribed about 19 times, two sources with knowledge of the matter said on Friday.

Demand for the bookbuild segment came in at about S$4.4 billion versus the S$230 million worth of shares being offered, said one of the sources who declined to be named as the information is not public.