<div id="readability-page-1"><div> Cornerstone investors have locked in 70% of expected gross proceeds.Flexible workspace operator JustCo is launching a $100m initial public offering on the Singapore Exchange, comprising 32.1 million new shares priced at $0.94 each.The IPO includes 25.8 million shares allocated to institutional and selected investors and 6.3 million shares offered to the public.The group said cornerstone investors have agreed to subscribe for 74.3 million new shares at the same price.Key investors include Avanda Investment Management, JPMorgan Asset Management Singapore, Fullerton Fund Management, Farglory International Investment, and Jang Dah Fibre Industrial.Cornerstone commitments totalled approximately $69.8m, representing around 70% of the total amount expected to be raised. The IPO and cornerstone issuance are expected to raise gross proceeds of about $100m.JustCo said net proceeds will be used for strategic investments, capital expenditure supporting expansion in existing and new markets, as well as general corporate purposes and working capital.The company also granted an overallotment option of up to 5.3 million shares, representing about 16.6% of the IPO shares, to support price stabilisation after listing if required.The Singapore public offer opened at 9 p.m. on 15 May and will close at 12 noon on 20 May. Trading is expected to commence on 22 May at 9 a.m.DBS Bank and UBS Singapore branch are acting as joint issue managers and global coordinators for the IPO, whilst DBS, UBS Singapore branch, and Maybank Securities are joint bookrunners and underwriters.The group has received backing from institutional investors over the past decade, including GIC Realty and Frasers Property, which will remain controlling shareholders following the listing. </div></div>

JustCo is set to launch a $100 million IPO on the Singapore Exchange, pricing shares at $0.94 each. The offering includes 32.1 million new shares, with cornerstone investors committing approximately $69.8 million, covering 70% of expected proceeds. The public offer runs from May 15 to May 20, with trading starting on May 22. Proceeds will fund strategic investments and expansion. DBS Bank and UBS are joint issue managers for the IPO.

Singapore Business Review

JPMorgan Chase

UBS Group AG

Frasers Property

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JustCo prices $100m SGX IPO at $0.94 per share ahead of 22 May debut