The IPO raised gross proceeds of approximately $20.1m. All-Link Air & Sea Limited saw its initial public offering (IPO) drew applications for 10,181,800 shares against just 2,100,000 available, 4.85 times oversubscribed after it listed on 5 August. Meanwhile, of the 35,824,500 placement shares available, indications of interest came in for approximately 44,348,323 shares. Across the full 37,924,500 offering shares, total demand came to approximately 1.44 times the shares available. At $0.53 per share, the IPO raised gross proceeds of approximately $20.1m.