For Records only
Kori Holdings Limited ("Kori" or "the Company") is placing out 28.2m shares of which 25.6m are New Shares and the balance of 2.6m are vendor shares at $0.25 each. The Company is basically a sub-contractor for construction projects.
Financial Highlights
Kori generated a revenue of S$34.7m in FY 2011 and made a net profit of $6m. For the first half of FY2012, the revenue was $26.6m and the net profit was $5.1m. At the date of issuing the prospectus, it has an order book of approximately $82.8m.
The offer has ended on 7 Dec 2012 and there will be no public tranche.
The offer price of 25c is at a discount to its NAV of around 31.93 cents and at very low single digit PE. The market cap at IPO price is around S$24.8m
The company ...
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