Updated January 31, 2021, 8.30 am. By Mak Yuen Teen On January 20, UOB Kay Hian (UOBKH) initiated coverage on G.H.Y. Culture & Media (GHY) with a buy call and a target price of $1.08. UOBKH was joint issue manager and joint underwriter for GHY’s IPO in December 2020. UOBKH’s initiation of coverage for GHY was well covered in the media. The day before, the share price had closed at $0.785. Source

GHY announced that its Public Offering was 16x subscribed. The balloting table is presented below. I always thought that 100k-499k is in the same band but as you can see from the table below, it may not always be the case.Investors who applied for 100,000 shares have a 80% chance of being allotted 6,900 shares.It is also interesting to see that Lion Global and UOBAM subscribed to the IPO.I can

G.H.Y Culture & Media Holding Co., Limited ("GHY" or the "Company") is offering 21.696m shares comprising 18.696 Placement Shares and 3m Public Offer shares at $0.66 each. The IPO will close on 16 Dec 2020 at 12pm and starts trading on 18 Dec 2020 at 9am. The market cap based on the IPO price is around $708.7m.Principal BusinessThe Company is an entertainment business that focuses on the