Eagle Hospitality Trust IPO's public offer undersubscribed amid market volatility

, with the Straits Times Index slipping 0.27 per cent to 3,152.25 as at 9am following a Wall Street sell-off overnight.

Meanwhile, some 1.3 million were re-allocated to the international placement to “satisfy an indication of interest received”, the managers said. The placement tranche was fully subscribed. The issue price of US$0.78 per stapled security falls below an earlier indicative range of US$0.80 to US$0.81.

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