Xyec Holdings ("Xyec" or the "Company") is offering 25m Placement Shares at $0.26 each for a listing on Catalist. There is no public tranche and frankly, i don't want to spend too much time on this so please don't expect a lengthy write up.
The IPO will close on 16 Sep and list on 18 Sep and the prospectus is here.
Principal Business
Xyec provides engineering and IT consultancy services for major manufacturing industries in Japan, such as the automobile and aerospace industries.
Financial Performance
Its a small revenue generating company with less than S$100m in FY2013 and a net profit of around $1.2m.
The listing PER based on enlarged share cap and assuming service agreement is in place is approximately 14.7x. It is not attractive to me and expensive.
Based on the listing price, the market cap is around $28.61m
Dividends
The Company ...
