For Information only

Memories Group Limited (“Memories Group” or the “Company”) is doing a compliance placement of up to 50m new shares at $0.25 per share. The offer is expected to close on 3 Jan 2018 and starts trading on 5 Jan 2018. This is a reverse take-over (“RTO”) of SHC Capital Asia Limited, hence there is no public offering. Even though the business of Memories Group is easy and simple to understand. I have to say that evaluating a RTO is more challenging than a usual IPO as RTO process is more complex. It involves consolidating the old shares, issuing new shares for the businesses to be acquired and then placing out the compliance shares. You can find a copy of the offering information statement (“OIS”) here
The compliance placement is to ensure compliance with listing rules to ensure at least 15% of the shares are held …