SINGAPORE (Jan 11): ISDN Holdings had to increase the number of public shares on offer to 20 million from the initial 4 million to meet “robust” demand.

The private placement tranche was thus reduced to 20 million shares from the 36 million initially offered.

Priced at HK$1.25 (23 Singapore cents), ISDN will raise net proceeds of about HK$40 million (S$7.4 million) from the IPO.

The new shares are being offered as part of the engineering group's dual primary listing on the main board of the Stock Exchange of Hong Kong (SEHK) which will begin trading on Thursday.

(See also: ISDN kept at ‘overweight’ as it readies for HK debut)

Shares of ISDN are trading 1 Singapore cent lower at 26 Singapore cents after the trading halt was lifted.