GDS Global Limited (“GDS”) is offering 17.5m shares at $0.25 each, comprising 12m New Shares and 5.5m Vendor Shares for IPO on the Catalist. 1m shares will be for public offer and the balance 16.5m share via placement. The offer will close on 17 April 12pm and starts trading on 19 April. At least CIMB is doing something more “courageous” than some other boutique outlets. It is letting public investors have a “chance” to play in the Catalist field and i must applaud them for that.

According to the prospectus, GDS is one of the leading commercial and industrial door manufacturer in Singapore.It is also one of the few players who are able to supply steel insulated fire shutters.  
Financial Highlights
As you can see from the financial highlights, this is a truly small cap company with low revenue and profit levels. In my …