UOB Kay Hian is placement agent for two upcoming IPOs, if you're interested, please kindly reply me by tomorrow 31/5/2017 5PM indicating your name, account #, which company and number of shares you're keen to subscribe for:
1. World Class Global Ltd (Part of Aspial Group):
- Company is a real estate company that undertakes property development and property investment in major cities in Australia and Malaysia. They are currently undertaking several property development projects, including residential and mixed use developments, and may in future expand our business to include property development in other sectors, including the industrial and hospitality sectors and may acquire new properties in the Specified Region. They may also expand our business to include the acquisition or development of property for investment purposes in the Specified Region, to earn rental or other income. Notable projects in the pipeline include Australia 108, Melbourne - the tallest building in Melbourne and tallest residence in the Southern hemisphere.
- Offer details
| Issue Type | n Initial Public Offering |
| listing | n Catalist |
| Offering Size | n 136,000,000 shares, comprising:- n 100,000,000 new shares n 36,000,000 vendor shares |
| Offer Structure | n 132,020,000 placement shares n 3,980,000 public offer shares |
| Overallotment Option | n 10,800,000 Shares |
| Indicative Price | n S$0.25 – S$0.28 per share |
| RNAV (Analyst Estimate) | n S$464m (Pre listing based on 7% cost of equity) n S$491m - S$495m (Posting listing) |
| Discount to RNAV | n 53.4% discount at S$0.25 |
| Gross Proceeds | n S$36.7m – S$41.1m (including overallotment) |
| Share Capital | n 805,000,000 shares (Pre-Listing) n 916,500,000 shares (Including overallotment) |
| Market capitalisation | n S$229.15m – S$256.62m (including overallotment) |
| Lodgement | 16 May 2017 |
| Book Closes | 1 June 2017, 5 pm |
| Registration | 6 June 2017 |
| Listing Date | 15 June 2017 |
| End Placee Brokerage: | 1.0% & applicable GST payable |
- Preliminary offer documents here: http://www.sgx.com/wps/wcm/connect/sgx_en/home/catalodge/20170516+World+Class+Global+Limited
2. HRnetGroup Ltd
- Company is the largest Asia-based recruitment agency in Asia Pacific (excluding Japan), as compared to other key players within the professional recruitment and flexible staffing industry with presence
in Asia Pacific, according to Frost & Sullivan. As at 31 December 2016, company operates in 10 Asian growth cities, namely, Singapore (where our headquarters are located), Kuala Lumpur, Bangkok,
Hong Kong, Taipei, Guangzhou, Shanghai, Beijing, Tokyo and Seoul.
- Brands include Recruit Express, SearchAsia Consulting, RecruitFirst, HRnet One, and PeopleSearch
- Offer details
| OFFERING STRUCTURE | |
| ISSUER: | HRnetGroup Limited (“HRnetGroup”) |
| TRANSACTION TYPE: | Initial Public Offering (“IPO”) |
| LISTING: | Singapore Stock Exchange (“SGX”) |
| OFFER PRICE RANGE: | S$0.80 – S$0.90 per share |
| BASE OFFERING SIZE: | ~194mm shares, 19.1% of enlarged share capital (pre-shoe) |
| OVER-ALLOTMENT: | ~11mm shares (100% primary), ~1.1% of enlarged share capital |
| OFFERING STRUCTURE: | 100% primary on base offering and over-allotment |
| TARGET DEAL SIZE: | S$155mm – 174mm / US$112mm – 125mm (pre-shoe) S$164mm – 184mm / US$118mm – 132mm (post-shoe) |
| EST MARKET CAP: | S$813mm – 910mm / US$585mm – 655mm (pre-shoe) S$822mm – 920mm / US$591mm – 662mm (post-shoe) |
| PRO-FORMA SHARES O/S: | 1,011mm – 1,016mm shares (pre-shoe) |
| OFFERING TRANCHE: | - Cornerstone shares: ~104mm shares - Institutional Shares (excluding Cornerstone): ~84mm shares - Singapore Retail Shares: ~6mm shares |
| CORNERSTONE TRANCHE: | ~S$89mm / ~US$64mm, ~54% of total offer size 7 Cornerstone investors: Aberdeen Asset Management Asia Limited, Affin Hwang Asset Management Berhad, Credit Suisse AG (on behalf of certain of their private banking clients), en-japan inc., FIL Investment Management (Hong Kong) Limited, Meiji Yasuda Asset Management Company Ltd, TechnoPro Holdings, Inc. |
| BOARD LOT: | 100 shares |
| DISTRIBUTION: | Reg S only |
| LOCK-UP: | - 6 months from Listing Date for HRnetGroup, SIMCO (including certain of its direct and indirect shareholders) and Vanda 1(1) - Certain of the employees to be issued the GLOW Initial Shares, the Opp 1 and Opp 2 Investment Shares, the Opp 1 Loyalty Shares and the Opp 2 Buy-in Shares are subject to lock-up restrictions in respect of certain of their Shareholdings as detailed in the prospectus. 88GLOW post-IPO shareholding: ~3.5% of enlarged share capital |
| USE OF PROCEEDS: | Business expansion and acquisition |
| BROKERAGE: | Up to 1.0% & applicable GST payable by all investors in the cornerstone and placement tranches |
Exchange rate used: 1USD = 1.3905 SGD
* Notes: (1) Vanda 1 is a Heliconia fund. Heliconia is a wholly-owned subsidiary of Temasek that provides growth capital to Singapore’s leading SMEs, to help them become globally competitive companies.
- Indicative IPO schedule
| INDICATIVE IPO SCHEDULE | |
| Expected Pricing: | June 7 |
| Public Offer Period: | June 9 to June 14 |
| Expected Listing: | June 16 |
- Preliminary prospectus here: https://eservices.mas.gov.sg/opera/Public/SD/ViewOfferDoc.aspx?shrID=306ed2dfaf09478a83d531e560ccc05b
