STOCKS | Merdeka Gold's International Placement Said to Be Over 11 Times Oversubscribed

Merdeka Gold (6228) was said to have seen more than 11 times oversubscription in the international placement portion of its offering, according to Ming Pao. Demand was said to be led mainly by long-term investors and insurance accounts, particularly China-backed financial institutions. Hedge funds were said to have received very limited allocations. The final allocation is still subject to confirmation after the bookbuilding process is completed.