Gaylin Holdings Limited (“Gaylin” or the “Company”) is offering 110m New Shares at $0.35 each. 5m shares will be for the public and the balance via placement. CIMB can choose to issue an additional over-allotment of 22m shares and they will use the shares to perform price stabilisation post IPO. The market cap is S$143.5m. The IPO will close on 23 Oct 2012 at 12pm and commence trading on 25 Oct 2012.
The prospectus is here and the preview is here
With an operating history since 1974, Gaylin is one of Singapore’s largest multi-disciplinary specialists providers of rigging and lifting solutions to the global oil & gas industry.
Assuming the service agreement is in place, the EPS for FY2012 using the enlarged share capital of 410m shares is 3 Singapore cents and that translate to a historical PER of 11.6x
Use of Proceeds
The use of proceeds …