NoonTalk Media Limited has completed its registration to list on the Catalist board of the Singapore Exchange (SGX) and targets to list on Nov 22.
In a Nov 14 press release, the company says it is offering 22 million shares, of which 17.5 million are placement shares and 4.5 million are for public offering.
The company expects an IPO share price of 22 cents, raising a total of some $4.8 million.
NoonTalk Media Limited is a Singapore-based homegrown media entertainment company that specialises in artiste and talent management, multimedia production and event conceptualisation.
The sponsor, issue manager and co-placement agent is Evolve Capital Advisory.
The underwriter and co-placement agent is CGS-CIMB Securities (Singapore), while its sub-placement agents are FUTU Singapore and OCBC Securities.
Applications for public tranche can be submitted through DBS/POSB, OCBC, UOB ATM and/or i-banking and will close at noon on Nov 17.
NoonTalk Media was co-founded by former DJ and actor Dasmond Koh and incorporated in April 2011. Koh is also the controlling shareholder, executive director and CEO of the company. The rest of the company’s directors are Dr Lynda Wee, non-executive chairman and independent director; Jed Tay, executive director and chief operating officer (COO); Soh Gim Teik, lead independent director; and Cruz Teng, independent director.
“Our directors believe that the listing of our company and the quotation of our shares on Catalist will enhance our public image locally and overseas and enable us to raise funds from the capital markets for the expansion of our business operations,” reads the offer document released on Oct 28.
According to its financial statements, NoonTalk Media has demonstrated revenue growth for the past three years from FY2020 to FY2022, with revenue at $3.04 million, $3.83 million and $6.37 million for the FY2020, FY2021 and FY2022 respectively.
The company’s earnings, however, stood at $73,939, $189,244 and $22,407 for the FY2020, FY2021 and FY2022 respectively. The plunge in earnings for the FY2022 was attributable to the lower production business segment due to its lower gross profit margin (GPM), as well as other factors.