MoneyMax Financial Services Ltd ("MoneyMax or the "Company") is offering 53.8m New Shares at $0.30 each for a listing on Catalist. The offer comprises 51.8m Placement Shares and a paltry 2m Public Offer. The prospectus is here. The market cap post IPO is around $106m.
The IPO will close on 31 July 2013 at 12pm.
Principal Business
The Company is a leading market player in the pawnbroking business. In other words, it is a now a "glorified and esteemed" money lender for fast liquidity and lender of last resort (other than the illegal loan-sharks) as seen by the advertisements using Mark Lee (and Michelle Chia for its key competitor).
Island-wide Coverage
The Company has 27 outlets in Singapore and seems like they are everywhere in Singapore. The questions you have to ask is whether they have reached their maximum potential? Can they bring their business model ...
