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http://infopub.sgx.com/FileOpen/Balloting%20Results.ashx?App=Announcement& FileID=443749
Public - 3.8m shares. A total pf 14,828 applicants, applied for a staggering 1.278 Billion shares.
Placement - 170 Million n Pre-IPO placement to key institution @0.20c.
Offering 173.8 mil new shares@25 cents apiece. The entire ipo is almost 8.3 times oversubscribed.
Hotter than jumbo?
Closed liao as at March 16, 2017.
First day placement shr all snap up n not enough to distribution by tender.
Some, if not many Brokers / Remisiers n others can' t get it. Gray mkt is hot going 0.40c.
teeth53 ( Date: 13-Mar-2017 08:37) Posted:
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Actually, nowadays, it simply not worth trying for IPO. This is probably due to the " system" and processes, as well as the IPO banker' s research on the worth of the stock. Likely they will price it higher than they are worth, anticipating a mad rush upon opening. So, essentially it is very difficult to make a killing on opening day. Moreover, the shares alloted is simply pathetic. You can have hundreds of thousands locked up just to be allotted 5 lots. The gain (if there is) does not justify the interest opportunity loss.
But if you are thinking of Long-term, then you can always buy-in along the way. Just need to wait for bad market days.
teeth53 ( Date: 13-Mar-2017 08:37) Posted:
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Now a day. This kopitium stock like Kimly can made some kopi money. Waste sgd$2/-. Tikam tikam maybe can collect back a sgd$150/-. It is says to be worth abt 0.38 to 0.40c on opening.
commando ( Date: 12-Mar-2017 16:13) Posted:
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Only 3.8mil to public
Haha how to get
Haha how to get
Kimly -The first operator of traditional kopitium to be listed in SG Catalist board.
Offering 173.8 mil new shares@25 cents apiece, placement 170 mil shares and public 3.8 mil shares.
Offering closes@noon on March 16, expected trading to start on Catalist board on March 20.
teeth53 ( Date: 09-Mar-2017 08:39) Posted:
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Kimly -The first operator of traditional coffee shops to be listed in Singapore.
It is offering 173.8 million new shares at 25 cents apiece, comprising 170 million placement shares and 3.8 million shares for the public.
The offer closes at noon on March 16, with trading expected to start on the Catalist board on March 20.
It has nearly 500 stalls across 64 outlets - 56 coffee shops, five food courts and three industrial canteens.
The network includes 121 stalls that carry the company brand, selling dim sum, seafood zi char and mixed vegetable rice, among other things.
The rest of the stalls are leased to tenants paying rent and management fees that go to Kimly's outlet management division.
We may be kopi-boys, but we are forward thinking kopi-boys.Kimly executive director Vincent Chia
This division accounted for around 57% of Kimly's total revenue last year.
The business is highly resilient, with strong cash flows and healthy earnings growth, executive director Vincent Chia said yesterday.
Despite its size, Kimly commands only a 5.8% mkt share, "so we have plenty of room to grow", said Mr Chia.
Kimly's revenue expanded from $148.9 mil in 2014 to $172.2 mil last year - a compound annual growth rate of 7.6%.
Net profit racked up compound annual growth of 9.9% over the same period to hit $24.2 mil last year, implying a price-to-earnings ratio of 12.02 for the stock, while cash flow from operating activities remained steady, from $21.8 mil in 2014 to $28.4 mil last year.
Kimly is looking to raise about $40.4 million of net proceeds from the IPO.
It is offering 173.8 million new shares at 25 cents apiece, comprising 170 million placement shares and 3.8 million shares for the public.
The offer closes at noon on March 16, with trading expected to start on the Catalist board on March 20.
It has nearly 500 stalls across 64 outlets - 56 coffee shops, five food courts and three industrial canteens.
The network includes 121 stalls that carry the company brand, selling dim sum, seafood zi char and mixed vegetable rice, among other things.
The rest of the stalls are leased to tenants paying rent and management fees that go to Kimly's outlet management division.
We may be kopi-boys, but we are forward thinking kopi-boys.Kimly executive director Vincent Chia
This division accounted for around 57% of Kimly's total revenue last year.
The business is highly resilient, with strong cash flows and healthy earnings growth, executive director Vincent Chia said yesterday.
Despite its size, Kimly commands only a 5.8% mkt share, "so we have plenty of room to grow", said Mr Chia.
Kimly's revenue expanded from $148.9 mil in 2014 to $172.2 mil last year - a compound annual growth rate of 7.6%.
Net profit racked up compound annual growth of 9.9% over the same period to hit $24.2 mil last year, implying a price-to-earnings ratio of 12.02 for the stock, while cash flow from operating activities remained steady, from $21.8 mil in 2014 to $28.4 mil last year.
Kimly is looking to raise about $40.4 million of net proceeds from the IPO.
https://www.bloomberg.com/quicktake/saudi-aramco
Saudi govt intends to sell up to 5% of Aramco in 2018, most likely in the 2nd half. By one estimate last year, the sale could raise $100 billion, dwarfing the $25 billion snared by Chinese internet retailer Alibaba in the world' s largest initial public offering in 2014.
More recent estimates suggest Aramco may be worth much less, with one analysis valuing the stake at $20 billion. Either way, bankers are lining up to reap a bonanza of fees.
Proceeds from the Aramco sale would bulk up a sovereign wealth fund at the center of a push to diversify the economy, a goal that&rsquo s gained urgency since the price of crude tumbled from more than $100 a barrel in 2014 to about half that level.
Deputy Crown Prince Mohammed bin Salman' s drive to create jobs for millions of unemployed Saudis in manufacturing, tourism and other fields is seen as crucial to the kingdom&rsquo s political stability.
The company will face unprecedented scrutiny: Disclosures needed to trade Aramco shares on overseas exchanges may include the first independent audit of the kingdom&rsquo s reserves, details about its production capacity and a window into how much of the nation&rsquo s oil wealth goes to the royal family.
Aramco is considering selling shares in London, New York, Tokyo, Singapore, HK or even Canada, as well as the domestic market. Chief Executive Officer Amin Nasser says the company may list on two or three exchanges. To make the sale more attractive to investors, Saudi Arabia will reduce the company' s tax rate.
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https://www.forbes.com/sites/ellenrwald/2017/02/25/the-worlds-biggest-ipo-is-coming-what-you-should-know-about-aramco/#496bca5e535f
The World' s Biggest IPO Is Coming: What You Should Know About Aramco... Going public for Saudi Aramco, the national oil coy of Saudi Arabia. It is expected to have a $2 trillion value, more valuable that ExxonMobil, Apple or Alibaba. This week Aramco named J.P. Morgan, Morgan Stanley and HSBC as the lucky underwriters for its offering.
It is unclear where shares will be listed though New York has been rumored. Regardless, investors may have to wait another year, or two, before Aramco is ready to go public. Here is a better look at Aramco and what its IPO means...?. |
Kimly Group's Catalist bid, the first publicly listed coffee shop chain here
Coffee shop chain might soon get a boost from an upcoming listing on the SGX Exchange.
Home-grown food services operator Kimly Group, which runs a chain of coffee shops and zi char stalls, is seeking a public listing.
If successful, it will be the first local coffee shop chain to be listed.
ST has learnt that the coy has hired law firm Rajah and Tann to handle the legal IPO process.
It has also appointed communications specialist August Consulting to handle the announcement.
Acra records showed that Kimly Grp owns more than 70 businesses, including coffee shops, zi char stalls and a central kitchen in Woodlands that oso serveß as HQ.
1,200 - Number of coffee shops in Singapore and 4 - Nos of large coffee shop operators here.
The investment holding company has a paid-up capital of $35.4 million and there are 27 shareholders, including Mr Lim Hee Liat, 50, a low-profile businessman who owns 51 per cent of the shares.
As one of four large coffee shop operators - alongside the Kopitiam Group, Chang Cheng Group and Kim San Leng - Kimly's move to seek public financing comes as the market faces heightened competition.
With 1,200 coffee shops in Singapore and the number will not go up by much more, said Mr Hong Poh Hin, chairman of the Foochow Coffee Restaurant and Bar Merchants Association, which represents 400 coffee shops.
"Nowadays, the Housing Board only rents out stalls, so they can't be bought," he said.
But running coffee shops is still perceived as a lucrative business, given the number of busy Singaporeans who opt to eat out.
Some popular coffee shops have been sold for record prices in recent years. One in Bukit Batok was sold for $31 million in 2015 and another in Hougang went for $23.8 million in 2013.
The news of Kimly seeking a listing has created a stir in the coffee shop business.
Mr Kenneth Lee, chairman of the Kheng Keow Coffee Merchants Restaurant and Bar Owners Association, said: "It is good news and will boost the image of the coffee shop trade."
He added: "That will encourage more players in the coffee shop business to also seek a listing, which will give them more resources to expand within the sector."
Mr Lee's association represents more than 300 coffee shops.
Several Kimly customers were surprised by the news of the planned listing.
Among them was Singapore Polytechnic lecturer Amos Tan, who was buying dinner from a Kimly zi char stall in New Upper Changi Road on Wednesday.
"With the funds, I would expect the food quality and service to improve," said Mr Tan, 39, who buys food there about once a week.
Another customer, factory worker Loh Oy Khuan, 55, said: "As long as they don't raise the price of their assam curry fish head, which I always come for, it's good news."
Mr Hong said the move is unlikely to affect food prices.
Coffee shop chain might soon get a boost from an upcoming listing on the SGX Exchange.
Home-grown food services operator Kimly Group, which runs a chain of coffee shops and zi char stalls, is seeking a public listing.
If successful, it will be the first local coffee shop chain to be listed.
ST has learnt that the coy has hired law firm Rajah and Tann to handle the legal IPO process.
It has also appointed communications specialist August Consulting to handle the announcement.
Acra records showed that Kimly Grp owns more than 70 businesses, including coffee shops, zi char stalls and a central kitchen in Woodlands that oso serveß as HQ.
1,200 - Number of coffee shops in Singapore and 4 - Nos of large coffee shop operators here.
The investment holding company has a paid-up capital of $35.4 million and there are 27 shareholders, including Mr Lim Hee Liat, 50, a low-profile businessman who owns 51 per cent of the shares.
As one of four large coffee shop operators - alongside the Kopitiam Group, Chang Cheng Group and Kim San Leng - Kimly's move to seek public financing comes as the market faces heightened competition.
With 1,200 coffee shops in Singapore and the number will not go up by much more, said Mr Hong Poh Hin, chairman of the Foochow Coffee Restaurant and Bar Merchants Association, which represents 400 coffee shops.
"Nowadays, the Housing Board only rents out stalls, so they can't be bought," he said.
But running coffee shops is still perceived as a lucrative business, given the number of busy Singaporeans who opt to eat out.
Some popular coffee shops have been sold for record prices in recent years. One in Bukit Batok was sold for $31 million in 2015 and another in Hougang went for $23.8 million in 2013.
The news of Kimly seeking a listing has created a stir in the coffee shop business.
Mr Kenneth Lee, chairman of the Kheng Keow Coffee Merchants Restaurant and Bar Owners Association, said: "It is good news and will boost the image of the coffee shop trade."
He added: "That will encourage more players in the coffee shop business to also seek a listing, which will give them more resources to expand within the sector."
Mr Lee's association represents more than 300 coffee shops.
Several Kimly customers were surprised by the news of the planned listing.
Among them was Singapore Polytechnic lecturer Amos Tan, who was buying dinner from a Kimly zi char stall in New Upper Changi Road on Wednesday.
"With the funds, I would expect the food quality and service to improve," said Mr Tan, 39, who buys food there about once a week.
Another customer, factory worker Loh Oy Khuan, 55, said: "As long as they don't raise the price of their assam curry fish head, which I always come for, it's good news."
Mr Hong said the move is unlikely to affect food prices.
Singapore's biggest listings in years moved a step closer yesterday when Singtel confirmed it has hired three banks to prepare its wholly owned fibre broadband unit NetLink Trust for an initial public offering (IPO) before April next year.
Under structural separation rules laid down by the infocomm regulator, Singtel must divest itself of more than 75 per cent of NetLink Trust by that date.
The telco has appointed DBS, Morgan Stanley and UBS to advise on the share sale, it said during its earnings briefing.
Singtel added that it was too early to comment on the expected size or use of the IPO proceeds, but previous reports have put its value at US$2 billion (S$2.8 billion) - which would make it one of the biggest deals here in years.
IPO proceeds could go towards funding other growth opportunities, and a portion of anything above that could be returned to shareholders, Singtel said.
NetLink Trust designs, builds, owns and operates the passive infrastructure for Singapore's Next Generation Nationwide Broadband Network.
In the 3-months ended Dec 31, NetLink Trust's net profit contribution rose 42% from a year earlier to $32 million, on a 12% jump in operating revenue from increased fibre penetration in Singapore. It has 79 per cent of the residential wired-broadband.
Under structural separation rules laid down by the infocomm regulator, Singtel must divest itself of more than 75 per cent of NetLink Trust by that date.
The telco has appointed DBS, Morgan Stanley and UBS to advise on the share sale, it said during its earnings briefing.
Singtel added that it was too early to comment on the expected size or use of the IPO proceeds, but previous reports have put its value at US$2 billion (S$2.8 billion) - which would make it one of the biggest deals here in years.
IPO proceeds could go towards funding other growth opportunities, and a portion of anything above that could be returned to shareholders, Singtel said.
NetLink Trust designs, builds, owns and operates the passive infrastructure for Singapore's Next Generation Nationwide Broadband Network.
In the 3-months ended Dec 31, NetLink Trust's net profit contribution rose 42% from a year earlier to $32 million, on a 12% jump in operating revenue from increased fibre penetration in Singapore. It has 79 per cent of the residential wired-broadband.
January 24, 2017 - Viz Branz Pte ltd, a coffee and cereal beverage maker, is seeking to relist on the SGX Exch with a valuation of at least S$700 million, according to people with knowledge of the matter.
The S' pore-based coy, sells products under &ldquo Gold Roast&rdquo and &ldquo Cafe 21&rdquo brands, is aiming to price stock offering this year, said the people, who asked not to be identified because the process is private.
Proceeds would be used to fund expansion. Viz Branz is seeking valuation that is more than double the S$289m value when the coy was delisted from SGX bourse in 2013, according to data compiled by Bloomberg.
The planned listing would come after Jacobs Douwe Egberts BV agreed in Nov to buy S' porean coffee maker Super Grp Ltd, in a deal valuing the target@32.6 times trailing 12-mth earnings, data show.
Viz Branz has expanded in China and Myanmar and boosted its profit margins since it was taken private, one of the people said. Its net income decreased 13 percent to S$25.9 million for the year ended June 30, according to a
Singapore corporate filing. - Viz Branz has distribution networks in the U.S., Lebanon, Russia, South Korea and Bangladesh, according to a subsidiary&rsquo s website. Soh Puay Khong, chief operating officer at Viz Branz,.It didn&rsquo t immediately respond to e-mails seeking comment.
1st-time share sales in S' pore climbed more than 4-fold last year to $1.7 billion, Bloomberg-data show.
Malaysian restaurant chain PappaRich Malaysia Sdn. is also preparing an IPO in the city-state as soon as this year to fund expansion, people with knowledge of the matter said earlier this month.
Dasin Retail Trust&rsquo s initial public offering (IPO) has been oversubscribed, magr for the trust announced on 19 Jan 2017.
At the close of IPO at 12 p.m. on the previous day, the retail tranche of 2 mil units was 7.6 times oversubscribed, with 734 valid applications for 15,268,100 units.
Meanwhile the IPO&rsquo s placement tranche, which offered 148,768,900 units to mostly institutional investors, was also oversubscribed, said Dasin Retail Trust.
DBS Bank, which has been appointed as the IPO&rsquo s issue mgr, and joint bookrunner, has over-allotted an additional 9,343,300 units, all of which have been issued to applicants under the placement tranche, said Dasin Retail Trust.
In addition, Chinese govt-owned China Orient Asset Mgt has now emerged as one of Dasin Retail Trust&rsquo s substantial unitholders immediately after offering, with a holding of 26,050,000 units, representing a stake of more than 5% of the total number of units in issue.
Units will be credited into the securities accounts of successful applicants by 2 p.m. on 20 January 2017, with units commencing trading on SGX Exch.
Dasin Retail Trust lodged its final prospectus for the IPO with the Monetary Authority of Singapore (MAS) on 13 January, with an initial portfolio of three retail properties across Zhongshan City, China.
Trust has a mandate to own or develop income-producing real estate in the Greater China region, including Hong Kong and Macau.
Based on the IPO of SGD0.80, Dasin Retail Trust is forecasting a distribution yield of 8.5%, and 9.0% for the reporting periods of 2017, and 2018 respectively.
teeth53 ( Date: 14-Jan-2017 12:55) Posted:
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UPDATE 1-Asia' s oldest stock exchange BSE may raise $182 mln in IPO
Jan 16 (Reuters) Indian stock exchange BSE Ltd' s initial public offering (IPO) of shares next wk may raise as much as 12.43 billion rupees ($182 million), based on the indicative price range for the sale announced on Monday.
Investors, led by Singapore Exchange Ltd , Atticus Mauritius and billionaire George Soros' Quantum, will be selling up to 15.4 million shares in Asia' s oldest stock exchange in a price range of 805 rupees to 806 rupees per share.
The IPO, which will be open for sale from Jan. 23 to Jan. 25, will value the stock exchange at about 44 billion rupees
($645 million) at the top end of the price range.
By comparison, Hong Kong Exchanges and Clearing Ltd has a market capitalisation of nearly $30 billion, while the Singapore Exchange is valued at more than $5.5 billion.
16-01-2017 07:00:00
Singapore to prop up Southeast Asia's muted IPO market in 2017
* Business trusts, REITs push up Singapore listings
* Currency volatility, weak sentiment to blunt SEA IPOs
* Commodities slump, financial scandal hit Malaysia in 2016
* Malaysia market to recover this year -securities official
SINGAPORE, Jan 16 (Reuters) - Singapore is set to be 2017's hottest spot for initial public offerings (IPOs) in tropical Southeast Asia with sales of stakes in business and real estate trusts, while currency volatility and weak investor
sentiment curb deals elsewhere in the region.
Singapore's stock exchange has promoted itself as a centre for business trusts and real estate investment trusts (REITs), which offer stable dividends. That has helped it partly make up for a drop in major share sales as large Chinese firms favour the higher valuations and liquidity of Hong Kong.
Fundraising via IPOs in Singapore hit $1.7 billion last year, up fivefold from 2015 when it slumped to its lowest since 1998, Thomson Reuters data showed.
"REITs and business trusts have been the flavour for some time b'cos they give a steady income stream for investors and typically in S,pore has been dividend-focused rather than pure capital gains-focused," said Srividya Gopalakrishnan, MD of corporate finance advisor Duff & Phelps Singapore.
Dasin Retail Trust, comprising three shopping malls in Zhongshan city in China's Guangdong province, kicked off its S$146 million ($102 million) IPO this month.
Bankers also expect Singapore Telecommunications Ltd to list broadband unit NetLink Trust [IPO-NLTR.SI] in the second half of the year, in a deal that could raise about $2.5 billion.
MUTED MARKETS
Elsewhere in Southeast Asia, significant fluctuation in the rupiah over the past year could dampen appetite for listings in LIndonesia, while firebrand politics and a drop in the peso are risks for the Philippines, bankers and analysts said. Higher benchmark interest rates under a new government in the United States could also tempt international investors to pull money out of riskier emerging markets, they said. Sizeable listings are planned in Malaysia but market sentiment has been crushed by a slump in commodity prices and a financial scandal involving state investor 1Malaysia Development Bhd.
Last year, just $238 million was raised in Kuala Lumpur IPOs, the lowest since 2008, Thomson Reuters data showed.
"We think that there is a healthy pipeline out there. However, because capital markets are so acutely vulnerable to investor sentiment and market conditions, it would be a matter of timing as to when these listings will happen," said Wong &
Partners deputy managing partner Munir Abdul Aziz.
Oil and gas engineering firm Serba Dinamik Holdings Bhd , which aims to raise $130 mil through a listing early this year, has not secured cornerstone investors.
MALAYSIA REVIVAL
Southeast Asia's IPO markets are typically volatile. Last year, fundraising from listings more than halved in Thailand to $1.25 billion while in Indonesia, fundraising rose more than 50 percent to top $1 billion. But the decline has been particularly sharp for M'sia, which was Asia's IPO capital in 2012 with blockbuster listings from Felda Global Ventures Holdings Bhd and IHH Healthcare Bhd .
One senior official at Securities Commission Malaysia, however, expects a recovery this year. Listings planned include property developer Eco World International Bhd [IPO-ECOD.KL] and fast-food restaurateur QSR Brands, which are looking to raise $478 million and $500 million respectively.
"We see global IPO markets picking up and we also see our IPO market picking up," Commission chairman Ranjit Ajit Singh said on the sidelines of an industry event on Thursday. "Our estimates are around 7 billion ringgit ($1.6 billion)."
($1 = 1.4284 Singapore dollars)
($1 = 4.4610 ringgit)
Singapore to prop up Southeast Asia's muted IPO market in 2017
* Business trusts, REITs push up Singapore listings
* Currency volatility, weak sentiment to blunt SEA IPOs
* Commodities slump, financial scandal hit Malaysia in 2016
* Malaysia market to recover this year -securities official
SINGAPORE, Jan 16 (Reuters) - Singapore is set to be 2017's hottest spot for initial public offerings (IPOs) in tropical Southeast Asia with sales of stakes in business and real estate trusts, while currency volatility and weak investor
sentiment curb deals elsewhere in the region.
Singapore's stock exchange has promoted itself as a centre for business trusts and real estate investment trusts (REITs), which offer stable dividends. That has helped it partly make up for a drop in major share sales as large Chinese firms favour the higher valuations and liquidity of Hong Kong.
Fundraising via IPOs in Singapore hit $1.7 billion last year, up fivefold from 2015 when it slumped to its lowest since 1998, Thomson Reuters data showed.
"REITs and business trusts have been the flavour for some time b'cos they give a steady income stream for investors and typically in S,pore has been dividend-focused rather than pure capital gains-focused," said Srividya Gopalakrishnan, MD of corporate finance advisor Duff & Phelps Singapore.
Dasin Retail Trust, comprising three shopping malls in Zhongshan city in China's Guangdong province, kicked off its S$146 million ($102 million) IPO this month.
Bankers also expect Singapore Telecommunications Ltd to list broadband unit NetLink Trust [IPO-NLTR.SI] in the second half of the year, in a deal that could raise about $2.5 billion.
MUTED MARKETS
Elsewhere in Southeast Asia, significant fluctuation in the rupiah over the past year could dampen appetite for listings in LIndonesia, while firebrand politics and a drop in the peso are risks for the Philippines, bankers and analysts said. Higher benchmark interest rates under a new government in the United States could also tempt international investors to pull money out of riskier emerging markets, they said. Sizeable listings are planned in Malaysia but market sentiment has been crushed by a slump in commodity prices and a financial scandal involving state investor 1Malaysia Development Bhd.
Last year, just $238 million was raised in Kuala Lumpur IPOs, the lowest since 2008, Thomson Reuters data showed.
"We think that there is a healthy pipeline out there. However, because capital markets are so acutely vulnerable to investor sentiment and market conditions, it would be a matter of timing as to when these listings will happen," said Wong &
Partners deputy managing partner Munir Abdul Aziz.
Oil and gas engineering firm Serba Dinamik Holdings Bhd , which aims to raise $130 mil through a listing early this year, has not secured cornerstone investors.
MALAYSIA REVIVAL
Southeast Asia's IPO markets are typically volatile. Last year, fundraising from listings more than halved in Thailand to $1.25 billion while in Indonesia, fundraising rose more than 50 percent to top $1 billion. But the decline has been particularly sharp for M'sia, which was Asia's IPO capital in 2012 with blockbuster listings from Felda Global Ventures Holdings Bhd and IHH Healthcare Bhd .
One senior official at Securities Commission Malaysia, however, expects a recovery this year. Listings planned include property developer Eco World International Bhd [IPO-ECOD.KL] and fast-food restaurateur QSR Brands, which are looking to raise $478 million and $500 million respectively.
"We see global IPO markets picking up and we also see our IPO market picking up," Commission chairman Ranjit Ajit Singh said on the sidelines of an industry event on Thursday. "Our estimates are around 7 billion ringgit ($1.6 billion)."
($1 = 1.4284 Singapore dollars)
($1 = 4.4610 ringgit)
The public offer closes at 12.00 p.m. on Wednesday, 18 January 2017.
Trading of the units is expected to commence at 2.00 p.m. on Friday, 20 January 2017.
Dasin Retail Trust projects 9% yield for 2018 at IPO price of SGD0.80
0JAN 14, 2017 INDUSTRY UPDATES, SINGAPORE REITS
China-focused Dasin Retail Trust has launched an IPO for 151,768,900 units to be listed on the SGX Exch, is raising some SGD121 mil (USD85 mil).
The trust, has a mandate to own or develop income-producing real estate assets in Greater China region, (HK and Macau), lodged its final prospectus with MAS on 13 Jan.
Dasin Retail Trust&rsquo s initial portfolio consists of three retail properties, Xiaolan Metro Mall, Ocean Metro Mall, and Dasin E-Colour, all are located in Zhongshan City, China.
It portfolio features total aggregate gross floor area of approximately 314,884.9 sq metres, and an aggregate value of approximately RMB4.6 bil (SG944.7 mil).
It Trust has also signed an agreement to acquire Shiqi Metro Mall by 30-Jun-17, that increase gross floor area to 434,567 sq metres, n aggregate value to RMB7.4B (SGD1.5B).
As of 30 June 2016, the four properties have a weighted average occupancy rate of 99.0%, and a weighted average lease expiry (WALE) of 7.4 years.
The IPO will comprise of a placement tranche of 149,768,900 units for qualified investors, and a retail offering of 2,000,000 units for the public in Singapore.
Dasin Retail Trust has also secured commitments of SGD25 million from two cornerstone investors, China Orient Asset Mgt, and Haitong Int' l Investment Fund,.
Both of which have agreed to subscribe for an aggregate of 31,250,000 units at the offering price.
The trust has committed to distribute 100% of its distributable income for its 2017 and 2018 reporting periods, and at least 90% from 2019 onwards.
Based on the IPO of SGD0.80, Dasin Retail Trust projects a distribution yield of 8.5%, and 9.0% for the reporting periods of 2017, and 2018 respectively.
The public offer closes at 12.00 p.m. on Wednesday, 18 January 2017, while trading of the units is expected to commence at 2.00 p.m. on Friday, 20 January 2017.
DBS was the sole financial advisor forthe offering, and will work with Bank of China, and Haitong Int' l Securities as joint bookrunners, and underwriters of the IPO.
Interest in SGX' s Catalist board this year is picking up, with 14 sponsors, up from 9 a yr ago.
At least four tech firms are tipped to hold initial public offerings (IPOs) next year - a powerful rebuttal to the idea that such companies are not keen on listing here.
The four will be aiming for Catalist board, are likely to include a British-based fintech coy, an e-commerce firm and one that develops software.
" We are seeing a rising trend where companies use technology as a foundation to build on traditional business models because of our focus as a Smart Nation," said Mr Mohamed Nasser Ismail, the Singapore Exchange' s senior vice-president and head of equity capital markets for small and medium-sized enterprises (SMEs).
" From start-up to being listable can take as little as 18 months. If their growth trajectory is steep, their need to scale up is sooner than later, and Catalist serves that need."
INTEREST BEGETS INTERESt
As interest from clients that want to come to market grows, so the number of professionals interested in partaking in the offerings increases. Increasingly, the secondary board is also attracting SMEs seeking access to capital to scale up.
A senior vice-president in SGX Exch and head of equity capital markets for small and SMEs. Said Mr Mohamed
Catalist sponsors hit 14 this year from nine, a year ago and it is expected to increase next year, due to a fairly robust listings pipeline.
" As interest from clients that come to market growth, so the number of professionals interested in taking part offerings increases."
" Increasingly, the secondary board is also attracting SMEs seeking access to capital to scale up."
Apart from tech firms, new listings next year are expected from property development, real estate, consumer and healthcare, and from Asia, Australia and Israel.
This year' s Catalist debutants have been healthy with seven of the 11 firms that had IPOs still above their listing price.
" Recent Catalist listings have performed well on price and investor interest.
" Catalist mkt relies a lot on sponsors to prepare firms for listing, also important is companies are ready for the rigours of a public listing."
Those that cannot meet the minimum trading price (MTP). So far, 15 have moved from mainboard to catalist due to the none MTP attractiveness..
All mainboard-listed companies must have a six-month average-weighted trading price of at least 20 cents.
Failure to meet the rule earns a spot on the watch-list and a three-year window to raise the share price or face delisting.
There are about 700 mainboard firms and 180 on Catalist.
Two Australian property developers are eyeing Singapore as a place to list.
The firm said last week that it was considering Singapore for an initial public offering.
Cromwell Property Group may launch IPO. Crown Group will decide in 1 to 2 years
Australia-listed real estate investment mgr Cromwell Property Group would list some European office.