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The Straits Times
www.straitstimes.com
Published on Apr 13, 2013
GDS Global launches Catalist IPO
GDS GLOBAL, a commercial and industrial door and shutter systems provider, has launched an initial public offering (IPO) for a listing on Catalist, the Singapore Exchange's second board.
The offer was for 17.5 million shares at 25 cents each, comprising a public tranche of one million shares and a placement tranche of 16.5 million shares.
Mr Michael Wong, GDS' chairman and chief executive, said the company has clinched several industry firsts in Singapore - it was the first to offer a rolled-up louvred door design, and the first to develop steel insulated fire shutters. To date, the company owns three patents.
"With growing emphasis on the enforcement of the fire safety code in regulated products across geographical markets, we anticipate that this will translate to demand for specialised products such as fire-rated shutter systems," he said.
The company's main manufacturing facility is in Singapore.
It also has an operating subsidiary with a 1,218 sq m factory in the United Arab Emirates and has recently set up a subsidiary in Taiwan.
The company hopes to raise net proceeds of about $1.43 million. Of that, about $600,000 will be used to acquire new machinery and equipment and $400,000 will be used to fund product development activities.
The rest will be set aside for working capital and general corporate purposes, said the company.
As of March 15, the company's order books based on confirmed sales orders were about $17.5 million.
The new issue is priced at a price earnings ratio of 9.35 times based on the group's historical earnings per share of 2.68 cents for the financial year ended Sept 30.
The initial placement represents about 15.6 per cent of the firm's enlarged issued share capital after the float.
The application list will close at noon next Wednesday. Trading of GDS' shares is expected to commence next Friday.
CHIA YAN MIN
www.straitstimes.com
Published on Apr 13, 2013
GDS Global launches Catalist IPO
GDS GLOBAL, a commercial and industrial door and shutter systems provider, has launched an initial public offering (IPO) for a listing on Catalist, the Singapore Exchange's second board.
The offer was for 17.5 million shares at 25 cents each, comprising a public tranche of one million shares and a placement tranche of 16.5 million shares.
Mr Michael Wong, GDS' chairman and chief executive, said the company has clinched several industry firsts in Singapore - it was the first to offer a rolled-up louvred door design, and the first to develop steel insulated fire shutters. To date, the company owns three patents.
"With growing emphasis on the enforcement of the fire safety code in regulated products across geographical markets, we anticipate that this will translate to demand for specialised products such as fire-rated shutter systems," he said.
The company's main manufacturing facility is in Singapore.
It also has an operating subsidiary with a 1,218 sq m factory in the United Arab Emirates and has recently set up a subsidiary in Taiwan.
The company hopes to raise net proceeds of about $1.43 million. Of that, about $600,000 will be used to acquire new machinery and equipment and $400,000 will be used to fund product development activities.
The rest will be set aside for working capital and general corporate purposes, said the company.
As of March 15, the company's order books based on confirmed sales orders were about $17.5 million.
The new issue is priced at a price earnings ratio of 9.35 times based on the group's historical earnings per share of 2.68 cents for the financial year ended Sept 30.
The initial placement represents about 15.6 per cent of the firm's enlarged issued share capital after the float.
The application list will close at noon next Wednesday. Trading of GDS' shares is expected to commence next Friday.
CHIA YAN MIN
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