Kimly

sounds like a cash-out to the owners directly using IPO funds... :O i could be wrong so don't quote me for it! :O

Let hope KIMLY dont do a "Silverlake' or 'Synear', sell personal assets to company.

KIMLY boss privately has 16 coffeeshops. If Sh** happens and KIMLY has lots of cash/debt capacity, may just unload to listed vehicle.

The above only for long term..,,

I think even apply for 4m shares (3.8m public tranche), cannot get 20k shares alloted...haha..

Maybe this will trigger an IPO fever, cannot have a bull market without an IPO fever. to bring in the fresh meat...

Kimly IPO subscription results:
Public tranch available = 3800k, subscribed=1,278,122k or 336x oversubscribed
Placement tranch available = 170,000k, valid subscription=169,422k or ~100%.
%subscription of total (excluding those by directors = 8.3x

The public tranch over-subscription is comparable to Spore O&G's 332x.

Kimly IPO subscription: http://infopub.sgx.com/FileOpen/Ballotin...eID=443749
Spore O&G IPO subscription: http://infopub.sgx.com/FileOpen/SOG_Ball...eID=354622

Fresh meat Lai Liao.

https://www.businesstimes.com.sg/compani...-suspended                        LOCAL coffee shop operator Kimly Limited has received regulatory orders to provide certain information and documents, and is suspending the trading of its stock pending updates, according to a filing to the Singapore Exchange on Tuesday morning.

https://links.sgx.com/FileOpen/Regulator...eID=535789

Kimly had received a letter from the CAD and MAS requesting for the provision of certain documents and equipment. Investigation is ongoing.

https://links.sgx.com/FileOpen/Rescissio...eID=535790

Kimly has announced the rescission of acquisition of Asian Story Corporation. $12 million of the $16 million consideration was repaid to the Company, with the balance to be repaid over three years.

Seller of Asian Story to Kimly had links to Pokka

https://www.businesstimes.com.sg/compani...s-to-pokka

https://singaporeinvestmentresearch.word...o-be-true/

It looks like Alain Ong Eng Sin -- who had certain executive powers at Pokka -- allowed Wang Chia Ye -- the owner of Asian Story, and an ex-Pokka employee -- to use Pokka's manufacturing facilities and distribution channels.

Since both were ex-employees of Pokka, that might be how they were first acquainted. Subsequently, it seems that the two figured to start a new beverage business by leveraging on Pokka. There would be no clear conflict of interest since Ong and Wang are presumably not relatives, and since Ong -- who at that time might still be employed at Pokka -- holds no shares in Asian Story.

From Pokka's perspective, Ong's fault at this point might have been to provide manufacturing and distribution facilities to an employee-turned-competitor. At worst, Ong may be fired by Pokka. And that would be it.

The situation involved investigation because perhaps Ong also sits on Kimly's board as a non-executive director. Since Kimly is purchasing Asian Story -- and since Ong may have been in concert with Wang to develop Asian Story's business -- the owner(s) of Asian Story, Ong's relationship with Wang, Ong's tenure at Pokka, and Asian Story's reliance on Pokka (the ex-employers of Ong and Wang) are material information to shareholders of Kimly and should be disclosed.

But what would Ong benefit from such risky moves? It is not yet clear. Perhaps he had a deal with Wang. Perhaps he would be made an executive director of Asian Story, together with Wang. Or maybe both. I don't know. It seems unlikely that Ong will remain on the board of Kimly after the dust settles.

As for executive directors Lim Hee Liat and Chia Cher Khiang, it would be difficult for them to claim ignorance of Ong's relatedness surrounding Asian Story. Maybe Kimly's sponsor -- Prime Partners -- will be blamed for giving bad advice.

For shareholders of Kimly, it looks like Pokka's did them a big favour by blowing the cover on what now looks like a related party transaction. Pokka must be furious when it was announced their ex-employee Ong -- through Kimly's acquisition of Asian Story -- was becoming a real threat.

Another old news for Pokka...

Pokka“内部审计”为由 撤赖怡伶丈夫王咏生总裁职务
https://www.channel8news.sg/news8/singap...39394.html