SG Upcoming IPO

[Reyes]

Lodgement Date Company Sponsor Status Offer Type
30-Jun-2015 Soo Kee Group Ltd. United Overseas Bank Limited Lodged IPO
29-Jun-2015 NauticAWT Limited Canaccord Genuity Singapore Pte. Ltd Lodged IPO
29-Jun-2015 Choo Chiang Holdings Ltd. CIMB Bank Berhad, Singapore Branch Lodged IPO
25-Jun-2015 iX Biopharma Ltd CIMB Bank Berhad, Singapore Branch Lodged IPO

Looks like so many coming up soon. Is there anything interested to discuss over?

[brattzz]

not really... kinda of scattered- businesses all over... imho,

[MINX]

not really... kinda of scattered- businesses all over... imho,

Seems like SGX is not doing a great job at attracting substantive IPOs?

[Reyes]

SGX had cheong about 40 cent yesterday. Probably thats the reason why they cheong
(doing many ipos tis quarter)

[Reyes]

Choo Chiang Holding IPO:

OVERVIEW OF OUR GROUP
Our Company was incorporated in Singapore on 5 September 2014 under the name “Choo Chiang Holdings Pte. Ltd.” as a private limited company under the Companies Act.
Pursuant to the completion of the Restructuring Exercise, our Company became the holding company of our subsidiaries, namely CCM
and Neiken. Please refer to the section entitled “Restructuring Exercise” of this Offer Document for further details. On 24 June 2015, our name was changed to “ Choo Chiang Holdings Ltd. ” in connection with our
Company’s conversion to a public company limited by shares.

Our Business
Our Group is one of the leading retailers and distributors of electrical products and accessories in Singapore, having had a retail presence of more than 20 years in Singapore.
We are principally engaged in the retail, distribution and supply of an extensive range of electrical products and accessories through our nine (9) retail branches (including the retail branch operated by Neiken) which are strategically located across different parts of Singapore.
We carry third party brand electrical products and accessories
which we source from manufacturers based in France, Germany, Japan, the Netherlands and/or their Singapore-based distributors. In addition,
we carry our own range of “CCM” and “CRM” brand of electrical products and accessories, manufactured by third party contract manufacturers on our behalf based on our specifi cations and/or on an OEM basis.

[Reyes]

Manulife delays $629m Reit IPO, citing market volatility
Protesters in Madrid, Spain, showing their support for Greece on Sunday, as the Greeks voted on whether to accept more austerity measures in return for bailout funds.

Greek 'no' vote, waning appetite for Reits likely to have led to move, say analysts
Jacqueline Woo
tsjwoo@sph.com.sg
The volatile share market has forced Canadian financial services giant Manulife Financial to put its $629.2 million listing of its United States property trust here on hold.
It said in a statement yesterday "depending on market conditions, the initial public offering (IPO) is expected to proceed at a later date".
Manulife lodged its preliminary prospectus with the Monetary Authority of Singapore last month, with trading expected to start on July 15. It planned to sell 694.4 million units, including cornerstone units, at 82 cents each. This would have made it the biggest IPO in in a year and the first real estate investment trust (Reit) to list in six months.
Cornerstone investors included Oman Investment Fund, Fortress Capital Asset Management and Nikko Asset Management Asia, according to the prospectus.
The Reit is backed by three office properties - in Washington DC, Los Angeles and Orange County, California - with an aggregate net lettable area of about 1.46 million sq ft.
ADDED UNCERTAINTY
"The weekend Greece result could have added to the reason for Manulife to pull out their IPO... The vote hasn't solved any problems; it's just added to the uncertainty.''
MR NICHOLAS TEO, market strategist at CMC Markets
An earlier Thomson Reuters IFR report said demand for the IPO did not materialise amid the debt crisis in Greece. "The weekend Greece result could have added to the reason for Manulife to pull out their IPO," noted Mr Nicholas Teo, a market strategist at CMC Markets. "The vote hasn't solved any problems; it's just added to the uncertainty."
Maybank Kim Eng Research senior analyst Joshua Tan said the Greek crisis likely "pushed over the edge what has been waning appetite for Reits". He told The Straits Times: "Fundamental conditions for occupancy and positive rent reversions are not great with general oversupply conditions for office, industrial and retail (developments), compounded by low demand for space due to a weak economy."
"Investors are also worried that rising bond yields may induce a sector de-rate," he added

[CityFarmer]

Is the IPO, untimely?

Public offer of NauticAWT to start at 9 tomorrow

SINGAPORE (July 14): NauticAWT, the Singapore-based oilfield engineering firm, is raising $5.6 million in an initial public offering.

NauticAWT will offer 28 million shares at 20 cents each. Twenty-seven million shares will be offered via a placement while one million shares will be sold by way of a public offer.

The public offer will open at 9.00 am tomorrow and close at 12 noon on July 21.
...
http://www.theedgemarkets.com/sg/article...9-tomorrow

[Debronic]

Is the IPO, untimely?

Public offer of NauticAWT to start at 9 tomorrow

SINGAPORE (July 14): NauticAWT, the Singapore-based oilfield engineering firm, is raising $5.6 million in an initial public offering.

NauticAWT will offer 28 million shares at 20 cents each. Twenty-seven million shares will be offered via a placement while one million shares will be sold by way of a public offer.

The public offer will open at 9.00 am tomorrow and close at 12 noon on July 21.
...
http://www.theedgemarkets.com/sg/article...9-tomorrow

Maybe. However, valuation is low at just 6.5x PE post dilution. Even lower at less than 6x PE if you adjust for CB interest charges (CBs have been converted before IPO)

Business wise, part of its main business is in maintenance of ageing O&G structures and platforms and could benefit from oil majors choosing to extend the life of these structures or platforms than to invest in new ones. Order book is decent. This is not your run of the mill OSV owner/charterer listed here. Plus, there is a strong strategic shareholder in Kim Seng Holdings.

That said, overall market sentiments is weak as long as you are in O&G. Will be interesting to see the performance.

[Reyes]

Any idea which broking house is doing the placement for this NauticAWT?

[CityFarmer]

Is the IPO, untimely?

Public offer of NauticAWT to start at 9 tomorrow

SINGAPORE (July 14): NauticAWT, the Singapore-based oilfield engineering firm, is raising $5.6 million in an initial public offering.

NauticAWT will offer 28 million shares at 20 cents each. Twenty-seven million shares will be offered via a placement while one million shares will be sold by way of a public offer.

The public offer will open at 9.00 am tomorrow and close at 12 noon on July 21.
...
http://www.theedgemarkets.com/sg/article...9-tomorrow

Maybe. However, valuation is low at just 6.5x PE post dilution. Even lower at less than 6x PE if you adjust for CB interest charges (CBs have been converted before IPO)

Business wise, part of its main business is in maintenance of ageing O&G structures and platforms and could benefit from oil majors choosing to extend the life of these structures or platforms than to invest in new ones. Order book is decent. This is not your run of the mill OSV owner/charterer listed here. Plus, there is a strong strategic shareholder in Kim Seng Holdings.

That said, overall market sentiments is weak as long as you are in O&G. Will be interesting to see the performance.

I concur. The O&G service providers should be able to survive better than others in the sector. The same applies to similar listed companies e.g. MTQ.

(will not participate in the IPO)