Woodland IPO over-subscribed

Woodland Designs Plc announced that its initial public offering, which was completed on July 4, 2007 ended successfully with the issue heavily over-subscribed as the company received 2.34 mln shares applications with the rate of over-subscriptions reaching 7.8 times.

Specifically, during the IPO for 200.000 shares, the issue was over-subscribed 5.96 times while the issue reserved for professional investors was over-subscribed 11.5 times who fixed the price during the book-building method.

The final price fixed from the book-building process was CYP 0.39 or EUR 0.668 per share. The company had promised that it would attempt to satisfy applications for 1000 shares in the first lot of allotment.

CISCO, the investment banking arm of Bank of Cyprus were the issue advisors.