CMA bond allocation results

Allocation results for public offer are as follows:

Public offer of S$100 million more than 4 times subscribed

Issuer upsized offer to S$400 million following strong demand

My thoughts about this result:

The response to this bond is quite good. This is probably due to the decent yield of the bond. Many investors also feel comfortable leaving their money with CMA for up to 10 years. 

After the upsize of the offer size to S$400M, S$180M was allocated to the placement tranche and S$220 was allocated to the public offer tranche. The above allocation results was for the public tranche.

Looking at the 2 biggest allocation group at the bottom, these investors applied for more than 1M SGD worthed of bonds in cash. Makes me wonder how many multi millionaires are there in Singapore. It also seems that these rich folks out there are not as aggressive as I thought. 3.8% is enough for them.

Breaking down the numbers further:
1000 to 1999 lots applied:
2.32% of total principal amount of bonds available under the public offer.
That is a 2.32/100*220M = 5.104M
Since each of these investors are allocated 365 lots (worthed S$365,000), there are 5.104M/365000 = 14 investors

For the above 2000 lots group,
0.56% of total principal amount of bonds available under the public offer.
That is a 0.56/100*220M = 1.232M
Since each of these investors are allocated 616 lots (worthed S$616,000), there are 1.232M/616000 = 2 investors.

That makes it a total of 16 multi millionares applying for ths CMA 10 year bond!!