Just after i complained about a Singapore IPO Famine on Tuesday, someone asked me today if I want to subscribe for the placement shares of the upcoming company – Gaylin Holdings Limited. The draft prospectus is here. Finally i see some decent local company going for IPO!

Hence the reason for the preview this time (usually i not so free :-P).

Anyway, the indicative issue statistics as follows:

Existing no. of shares = 300m.
New shares to be issued pursuant to the IPO = 110m
No vendor share sale

IPO price = S$0.35 – S$0.37
Total IPO raising = S$38.5m – S$40.7m
Market cap @IPO = S$143m – S$151m
Target IPO launch date is mid Oct.

My “gut” feeling of the IPO as follows:

  1. Current market sentiment is positive and that should spill over to the IPO.
  2. Company is in the Oil and Gas sector which …