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(16-07-2015, 09:00 PM)CityFarmer Wrote: Very limited public offering from the three IPOs...
Three latest Catalist aspirants opt for safety of placements
SINGAPORE (July 16): Retail investors trying to get hold of shares in new Catalist listings iX Biopharma, NauticAWT and Choo Chiang Holdings may have a tough time.
Each of the three companies are offering a mere one million shares for public application, with the rest of their issues being placed out through their respective agents.
iX Biopharma, an Australia-based pharmaceuticals company, is issuing 65.5 million shares at 46 cents each to raise $30.1 million.
Choo Chiang, a distributor of electrical products and accessories, is issuing 32.3 million shares at 35 cents each to raise $11.6 million.
NauticAWT, which provides engineering services to the oil and gas industry, is issuing 28 million shares at 20 cents each to raise $5.6 million.
“Why list the company in the first place?” says S. Nallakaruppan, an investment specialist with a local brokerage firm, via e-mail. “It is supposed to be an ‘initial public offer’ and not an ‘initial private offer’.”
...
http://www.theedgemarkets.com/sg/article...placements
I agree that they should have a minimum but 25% is too high. From my experience, neither companies nor advisers like to leave the fate of the issue (i.e. amt of funds raised and pricing) significantly in the hands of the public. 10% would be a good balance between company and underwriter on one side who need to have certainty of funds raised and on the other, the investing public who wish to participate in hot issues. A clawback mechanism in the event of large oversubscription by public like that proposed by HKEX a few years ago would also help.
Anyway, this so called investment specialist is a remisier at DBS vickers according to his linkedin profile and probably has vested interests.
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Hi all, is the sponsor a good indication of the quality of the IPO?
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New Listing
Telecoms engineering firm CMC Infocomm plans Catalist listing
By Chan Chao Peh
SINGAPORE (July 18): CMC Infocomm, a telecommunications engineering company, is planning a Catalist listing to fund future expansion as well as to pay down loans extended by existing shareholders.
The company, which has a paid-up capital of more than $8.9 million comprising 128 million shares, is a 50-50 joint venture between CMC Engineering Sdn Bhd and TEE International, an engineering and infrastructure player also listed on the SGX.
For the nine months to Feb 28 2015, the company posted earnings of $0.5 million, reversing a loss of $0.3 million y-o-y. Revenue in the same period was $11.9 million, down from $12 million. As of Feb 28, 2015, it has a net asset value of 8.69 cents per share – up from 8.08 cents as of May 31 2014.
The proposed listing is arranged by SAC Capital and a copy of the preliminary prospectus was posted on SGX’s Catalodge on July 16.
The company, in its preliminary prospectus, has indicated plans to allocate $1 million from the net proceeds to pay down part of what it owes its parent TEE International.
CMC Infocomm can trace its roots back to the early 1990s, when it was a subsidiary of conglomerate Keppel Corp, providing paging, trunk radio and analogue mobile technical services.
One of the company’s key customers is M1, Singapore’s second mobile operator, where Keppel is a founding shareholder and still owns a stake of just below 20%.
Over the years, the company has also diversified into other markets like the Philippines and Thailand. It has also expanded beyond M1, winning contracts from M1’s competitors like Singtel, StarHub as well as networking equipment maker Huawei.
In April 2011, TEE International and its current partner CMC Engineering bought a controlling stake in CMC Infocomm.
CMC Engineering was founded by Dato Abdul Rahman in May 1996 to provide engineering works for clients in public transportation, oil and gas, and telecommunications. He is the non-executive chairman of CMC Infocomm.
The company’s executive director and CEO, Kevin Phua, used to work in the semiconductor industry as an engineer. He is the nephew of TEE International’s group CEO Phua Chian Kin, who has another nephew, Jonathan Phua, heading another of their separately-listed property subsidiary, TEE Land.
Alex Siow, one of four independent directors sitting on CMC Infocomm’s board, is a former senior executive with StarHub.
The planned listing of CMC Infocomm marks another key move by TEE International to expand beyond its core engineering services into other business activities like property development and infrastructure-related ones like power generation.
TEE Land, which has developed residential properties in Singapore and Thailand, was listed back in June 2013. The company has earlier indicated plans to list a Thai-based associate further down the road.
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CMC Infocomm's public offer tranche is 10% of its total offer size, 2.4 million shares. Guess the chance of getting the shares will be higher.
IPO price is 25 cents per share.
IPO Offer Document can be found:
http://www.sgx.com/wps/wcm/connect/sgx_e...mm+Limited
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Company Sponsor Status Offer Type Lodgement Date
CMC Infocomm Limited SAC Capital Private Limited Registered IPO 16-Jul-2015
Soo Kee Group Ltd. United Overseas Bank Limited Lodged IPO 30-Jun-2015
Another 2 coming.. IPOs rocks...~!
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Soo Kee Group launches Catalist IPO
By Ong Hui Qunohuiqun@sph.com.sg
Aug 12, 20155:50 AM
Singapore
RETAIL jeweller Soo Kee Group has launched its initial public offering (IPO) for a Catalist listing at S$0.30 per share.
Of the 112.5 million new shares being offered, nine million shares are being offered to the public while 103.5 million shares are being offered by way of placement.
This puts the market capitalisation of the group at approximately S$168.8 million post-IPO.
The funds raised will go towards strengthening the group's retail presence in Singapore and Malaysia, where it currently has more than 60 outlets under the separate brands of Soo Kee Jewellery, SK Jewellery, and Love & Co.
Proceeds will also be used for the development of e-commerce platforms, increased spending on digital and mobile advertising, as well as construction of its new Changi Business Park headquarters.
The group announced the construction of its corporate headquarters in January last year. Costing around S$26.8 million, the seven-storey industrial building will serve as the jeweller's regional research and design hub upon completion.
For the last financial year, net profit stood at S$10.8 million, up from S$8.0 million the year before, while revenue fell from S$143 million to S$134 million over the same period.
More than 85 per cent of the group's revenue came from its retail stores in Singapore, with the rest from Malaysia.
Said executive director and group chief executive officer Lim Yong Sheng: "The listing of our company is timely, as we seek to further enhance the visibility of our brands, profile, and position ourselves for our next phase of growth."
He added: "We believe that we have become a trusted name in the industry, with our high-quality jewellery products and mementoes, and a strong focus on continual innovation to appeal to evolving consumer tastes and preferences."
United Overseas Bank is the sponsor, issue manager, underwriter and placement agent for the IPO. The public offer will close on Aug 18 at noon, and the stock is expected to start trading on Aug 20.
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Anyone applying sookee ipo??
Is it good ipo ?
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Today is the debut of Soo Kee IPO. Lets see how it goes
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siao liao... all underwater... take cover and hold your cash
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