Lendlease reportedly gunning for US$500 mil with intended retail REIT listing on SGX

SINGAPORE (Mar 19): Australia-listed developer Lendlease Group is planning to list a real estate investment trust (REIT) of its retail assets on the Singapore Exchange, according to sources of Thomson Reuters’ IFR Asia.

Citing people with knowledge of the transaction, the online article published today said the group is planning to raise up to US$500 million, or $675.3 million, from the listing.

The group itself, however, has yet to make any announcements on the ASX nor via its website as at the time of writing.

Mahathir says some Malaysian state-owned entities may be listed

KUALA LUMPUR (Mar 19): Malaysia may list certain state-owned entities to cut government debt and liabilities, Prime Minister Mahathir Mohamad said on Tuesday as it seeks new revenue sources to boost its fiscal position.

Dr Mahathir, elected in a stunning upset last year, has blamed the previous administration of Najib Razak for saddling Malaysia with debt and liabilities of more than RM1 trillion ($331.3 billion).

Grand Venture Technology public tranche 15.7 times subscribed; trading starts on Wed

SINGAPORE (Jan 22): Grand Venture Technology (GVT) says its $13.2 million initial public offering (IPO), which closed on Monday at 12 noon, successfully placed out all 42.9 million of its new shares at 27.5 cents.

The placement, comprising 0.8 million offer shares and 42.1 million placement shares, was fully subscribed in aggregate at 1.3 times.  

Trading of GVT’s shares on the SGX Catalist board is expected to start at 9am on Wednesday.

F&B operator Koufu lodges preliminary prospectus for IPO on SGX Mainboard

SINGAPORE (June 28): Koufu Group, the operator and manager of food and beverage (F&B) establishments in Singapore with a presence in Macau, has lodged its preliminary prospectus with the Monetary Authority of Singapore (MAS) for a Mainboard listing on the SGX.

In its preliminary prospectus lodged on Thursday by issue manager DBS Bank, Koufu's controlling shareholder Jun Yuan Holdings will be making an offering of shares in its proposed initial public offering (IPO), although its details have yet to be determined.

Will Serial System's HK spinoff give it the valuation it seeks?

SINGAPORE (June 22): Electronic parts distributor Serial System is set to spin off its Hong Kong subsidiary, Serial Microelectronics (HK), in a listing on the Stock Exchange of Hong Kong. 

The listing, which was approved at an extraordinary general meeting on April 6, will cut Serial System’s stake from 91% to 68.25%. 

Serial System estimates that the subsidiary, which distributes electronic parts within Greater China, will have a minimum market value of US$220 million ($299 million) upon listing.

MyRepublic considers Hong Kong listing as early as December 2019

SINGAPORE (June 6): Singapore-based Internet provider MyRepublic Group is weighing an initial public offering in Hong Kong as early as December 2019 to fund expansion of its cloud-based broadband and mobile platform.

The company has raised US$150 million ($200 million) in capital, including a US$60 million injection from Singapore family office Kamet Capital Partners and CLSA’s asset management arm, according to Chief Executive Officer Malcolm Rodrigues. MyRepublic may add to that total in its latest round of private funding, he said.

Promise of higher dividends mitigate currency risk for LY Corp, says NRA Capital

SINGAPORE (Jan 30): NRA Capital likes LY Corporation, the original design manufacturer of wooden bedroom furniture, for what it sees as a positive mix of growth and dividend plans to come.

While potential appreciation of the Malaysian Ringgit presents a key risk to the group’s profitability, NRA believes this will be mitigated by the promise of a higher 40% payout of PATMI for FY18-20, up 25% from 25% for FY17.

3 reasons why US firms are taking longer to go public

SINGAPORE (Jan 9): It was an encouraging 2017 for the S&P 500, booking a full year of monthly total gains for the first time ever. But the elephant in the room still remains about the shrinking pool US companies going public.

According to data from Dealogic in a Dec 2017 report, the past year had been a record one for US-listed IPO volume and activity since 2014 – with issuance on the US exchanges totaling US$47.8 billion ($63.6 billion) via 179 IPOs.

MyRepublic secures $70 mil in funding; to launch MVNO service in 2018

SINGAPORE (Nov 22): Broadband provider MyRepublic has secured a $70 million investment from Makara Innovation Fund to accelerate its growth in current markets as well as scale up product and service offerings.

Makara Innovation Fund (MIF) is a $1 billion private equity fund sponsored by financial services company Makara Capital. It was formed in alliance with the Intellectual Property Office of Singapore (IPOS) to further intellectual property management, monetisation and commercialisation.

MindChamps lodges IPO prospectus; to sell 30.4 mil shares at 83 cents

SINGAPORE (Nov 17): MindChamps PreSchool, the operator and franchisor of premium-range preschool centres in Singapore, has registered its initial public offering (IPO) prospectus with the Monetary Authority of Singapore (MAS) to list on the Mainboard of the Singapore Exchange (SGX).

The IPO will offer a total of 30.4 million shares at 83 cents each, comprising an international placement of 28.4 million shares to investors and another 2 million by way of a public offer.

It will open in Singapore at 9am tomorrow and close at 12 noon on Nov 22.

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