Rocom IPO oversubscribed

The company was offering 1.2 million 50-cent shares, and its organising broker says it has received nearly 500 applications resulting in substantial oversubscriptions.

The broker says all applications received on time have been allocated at least one thousand shares.

Rocom Wireless is planning a subsequent public offering (SPO) to raise approximately $2 million to acquire Rocom Limited, and has identified that purchase as its potential key transaction.

Rocom is a major independent supplier of wireless telecommunications equipment, and has annual sales of around $16 million.

It plans to list on the New Capital Market on August 17th.

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