Author: Mr. IPO

Union Gas – Balloting Results

Union Gas announced that its IPO drew strong support from investors and was 7.1x subscribed. Ms. Alexis Teo (张淑婷), Chief Executive Officer of the Group said: “We are very encouraged by the positive response to our IPO from investors and I extend my deepest appreciation for the confidence they have shown in us. This listing is just the beginning for Union Gas. We have several expansion plans and I hope that our new family of investors will continue to support the Group as we carry out these plans.” The balloting table is presented below for your information: It is difficult to get the...

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Netlink NBN Trust – Balloting Results

Netlink NBN Trust announced its IPO was 2x subscribed. Considering its large float, this is a decent subscription rate. Mr Tong Yew Heng (唐耀兴), Chief Executive Officer of the Trustee-Manager, said, “The robust demand from both institutional investors and retail investors to our IPO is a strong vote of confidence in the NetLink Group’s unique investment proposition. The NetLink Group’s future growth is driven by a clear strategy to tap opportunities in the residential, non-residential and non-building address point segments, underscored by the continued growth in data consumption. Going forward, we intend to provide our Unitholders with regular and...

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My "Strategy" for Netlink Trust IPO

I gave a one chilli rating for Netlink NBN Trust IPO this week. The write up is here. Business Trusts haven’t done as well as REITs in general in Singapore🤔  – probably because Business Trust started on a wrong foot and left a bad taste on investors. The first business trust to be listed was First Ship Least Trust and that left a very sour taste on investors as evidenced by the -19% since listing (ouch! see table compiled by Edge below).  The Edge compiled a list of Business Trusts performance and those that performed well are “real-estate” linked...

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Union Gas Holdings Limited

Union Gas Holdings Limited (“Union Gas” or the “Company”) is offering 60m shares comprising 30m New Shares and 30m Vendor shares at $0.25 each for a listing on Catalist. The IPO will close on 19 July 2017 at 12pm and starts trading on 21 July 2017. 1.28m shares will be available for the public with the rest via the placement tranche. The market cap is around S$50m based on the IPO price. You can find the prospectus here. History of Union Gas The founder of Union Gas is a self-made man. His rags to riches story was featured in...

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Netlink NBN Trust (Update)

I have previously written a post on Netlink NBN Trust over the weekend. This is the updated post based on its registered prospectus and i will just highlight some of the updates made but the primary analysis and chilli ratings remained unchanged. You can find the prospectus here. The final pricing is fixed at $0.81 and the offer will end on 17 July 2017 at 12pm and starts trading on 19 July 2017 at 3pm. 🤔 Why 3pm….. did they consult a fengshui master or are they trying to limit first day selling?? There will be 185 shares for the public and...

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SRS portfolio – Q2 update

It has been a while since i blog about SRS account. Let me see if there are any interesting stuff happening to me in Q2 2017… Dividend and Interest Income Received about $8,854 in dividends this quarter Received $2,975 from Hyflux 6% Perps  Received $1,500 dividend income from UMS Holdings Received $356 from Starhill REIT Received $2,319 from Perennial Real Estate Bond Elected to receive 567 units in Fraser Commercial Trust (Scrip Dividend) – Cash equivalent $752 Elected to receive 1,131 scrip dividend in Croesus Retail Trust (Scrip Dividend) – Cash equivalent $952 Wifey received some cash interest from...

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Netlink NBN Trust

NetLink NBN Trust (“Netlink Trust” or “NLT” or “Trust”) is set to be the biggest IPO in Singapore in the last 6 years where it will raise around S$2.3 billion. The last mega IPO was when Hutchison Port Holdings Trust raised US$5.5 billion in 2011. According to various sources, NLT is set to priced its IPO at 81 cents. This is at the low end of its book building range of 80 to 93 Singapore cents, indicating lacklustre demand from investors. This is one of the widest book building range i have ever seen and it probably reflected the...

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A decade of reflections … and mumblings

It seemed like yesterday when i penned the post for the 9th anniversary last July. You should read it if you are new to my blog as it summarized my journey and recapped some of the key articles and milestones for the blog since 07.07.07. Reflections of my journey so far   It was an interesting week for me where i received 3 invitation emails from Shareinvestor, Deal Street Asia and Small Caps Asia on the same day to be either a panelist on Invest Fair 2017 or for a media interview. Unfortunately i have to turn down these invitations...

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Y Ventures Group Ltd

Y Ventures Group Ltd (“Y Ventures” or the “Company) is offering 35m shares at $0.22 each via placement for a listing on Catalist. There will not be any public tranche, hence my rating will not be meaningful. The market cap is around $44m and the IPO will close on 7 July at 12pm and starts trading on 11 July at 9am. Principal Business   On first look, the name Y Ventures seemed to suggest that it is a venture capital company. However, it is far from it and it is a e-commerce company. If you want the history of the...

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Shopper360 – Placement Results

Shopper360 Limited (“Shopper360” or the “Company”) announced that is IPO attracted strong interest from institutional investors. There is no public offering (which is why it can’t get the highest rating from me). Ms Chew elaborated, “As a listed company, we are now in a better position to fortify our market position and stay ahead of the competition. The increasing importance for shopper engagement and experience, bolstered by a proliferation of brick-and-mortar retail stores, bode well for us, as the synergistic nature of our business segments enables us to provide integrated solutions to our customers at every touch point –...

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Shopper360 Limited

Shopper360 Limited (“Shopper360” or the “Company”) is placing out 38m placement shares (comprising 18m New Shares and 20m Vendor shares) at $0.29 each for a listing on Catalist. Since there is no public tranche, my ratings is probably less meaningful to majority of the readers. The IPO will close on 28 June at 12pm and starts trading on 30 June 2017 at 9am. Based on the IPO price, the market cap is around S$33.2m Principal Business The Company is a well-established shopper marketing services provider with 30 years of experience in the retail and consumer goods industries in Malaysia....

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HRnetgroup – Balloting results

  HRnetGroup announced strong demand for its shares which was 15x subscribed. The list of cornerstone investors were pretty impressive as well. According to a DB’s memo to client, HRnetGroup priced its IPO at the top of the price range and at a premium to its peers on 2017 PE basis. There was a total of 7 cornerstone investors including Fidelity and Aberdeen who have not participated as cornerstone investors in Singapore since 2014. The balloting table is below for your reference:...

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World Class Global – balloting results

Word Class Global announced that it’s IPO was 2.1x subscribed and also triggered the over-allotment.  The balloting table is presented below. Investors had a 50% chance of getting the shares. Mr Ng Sheng Tiong, Executive Director and CEO of WCG, commented, “We are highly encouraged by the positive response we have received for our IPO. This clearly demonstrates the strong confidence that the investors have in WCG’s investment story. With the success of our IPO, I am optimistic that we are now well-placed to develop our property assets in Australia and Malaysia to their fullest potential.”  Good luck to...

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HRnetGroup Limited

HRnetGroup Limited (“HRnet” or the “Company”) is offering 89.482m shares for its IPO of which, 85.682m shares are via placement and 3.8m shares for the public offering. The IPO will close on 14 June at 12pm. The Company will have an over-allotment option of up to 11.1m shares in the event of strong demand.  The IPO will close on 14 June 2017 at 12pm with a market cap of approximately S$900m. Finally, we see a mainboard listing on SGX after so long! SGX must be heaving a sign of relief. Principal Business HRnet is one of the largest Asia-based recruitment...

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