For some reason, I don’t usually get lucky in IPO balloting process, especially if they are those which are oversubscribed by many fellow retail investors. The latest incident was the SPH Reit. Balloted and failed. Another $2 wasted.

This week, we have the “ValueMax Group”, one of the oldest pawnbroking chains in Singapore, launching a $70 Million IPO seeking to be the first in its industry to list on the mainboard of the Singapore Exchange. Previously, MoneyMax and MaxiCash have been listed on the catalyst.

Based on the way the company is offering the shares to the public, it looks like another $2 going right to the bin. The company is issuing 138 Million shares at $0.51 each –> 133 Million under the placement tranche and only 5 Million under the ATM tikam scheme.The last ballot for the public will be on the 28th October 12pm.