ValueMax Group Limited ("ValueMax" or the "Company") is offering 138m New Shares at $0.51 each whereby 5m shares will be for the Public and the balance via Placement. The prospectus is here. The IPO will close on 28 Oct 12pm.

ValueMax is one of the oldest and most established pawnbroking chains in Singapore and the first to be listed on the Mainboard of Singapore. The other two competitors, Moneymax and Maxi-Cash are listed on Catalist. I guess I didn't notice this "pawn" because there are no glamorous artiste to "brand" the company. The Company currently has 17 outlets in Singapore.

As in such businesses, the revenue is impressive but not the net margins. The Company made $14.3m last year. Assuming the profit is maintained for FY2013, the dividend will be 50% x 16.3m (pro-forma) divide by 533.5m shares = Singapore 1.52 ...