First Sponsor Group Limited ("FSG" or the "Company") is offering 3m shares for the public and 30.25m shares via placement at $1.50 each for its IPO. The offer will end on 17 July 2014 at 12pm and starts trading on 22 July at 9am.
It was priced at the lowest end of its book building range according to the Company's term sheet. The market cap will be around $884.7m based on the IPO price.
Principal Activities
The Company is a developer and owner of residential and commercial properties in PRC and is backed by 2 key controlling shareholders, Hong Leong Group Singapore (through Millennium & Copthorne Hotels Plc) and Tai tak Estate Sendirian Berhad.
The Company operates in 2 key cities of Chengdu and Dongguan and the picture below will show you all their projects (current and future) at one glance.
Financial Performance
It is frankly ...