Coliwoo, a leading player in Singapore’s co-living sector, has commenced trading on the Singapore Exchange (SGX) Mainboard under the stock code “W8W”. The initial public offering (IPO) saw significant demand, with the public offer of 5.3 million shares being oversubscribed by approximately 20.7 times. Additionally, the placement of 75,004,000 shares was oversubscribed by 7.3 times, attracting interest from both international and local investors.
The IPO raised gross proceeds of approximately $73.5m (S$101m), bolstered by the participation of nine cornerstone investors who subscribed to 88 million shares valued at $38.4m (S$52.8m). Executive Chairman and CEO Kelvin Lim expressed his gratitude for the robust investor support, stating that it reflects confidence in Coliwoo’s market-leading position and its track record in delivering quality living solutions.
Lim highlighted that the IPO marks a pivotal step in Coliwoo’s growth strategy, aiming to expand its portfolio to nearly 4,000 rooms by the end of 2026. The funds raised will be directed towards strategic priorities, including the development of pipeline properties and the pursuit of asset-light strategies through master lease arrangements and management contracts. With a 19.5% share of Singapore’s co-living market, Coliwoo is poised to leverage favourable sector dynamics to deliver sustainable value to stakeholders.
