Tag Archives: IPO

Soilbuild IPO oversubscribed 7.5 times

Posted on 27 May 2013 | Comments Off on Soilbuild IPO oversubscribed 7.5 times

Soilbuild Construction Group’s IPO of 168 million new shares has drawn substantial interest from investors. Excluding the parties specified under Rule 232 and Rule 240 of the SGX-ST Listing Manual, the IPO was 7.5 times oversubscribed and attracted application monies of S$315.6 million from the total valid applications.

Priced at S$0.25 each, the IPO shares raised S$42 million in gross proceeds. It included two million offer shares by way of public offer and 166 million placement shares.

“We are delighted with the strong response from investors. We look forward to welcoming them as our shareholders,” said Lim Chap Huat, Executive Chairman at Soilbuild. “The support shown demonstrates confidence in the construction sector in Singapore, particularly Soilbuild. Our management and staff will continue to build the business to achieve growth on a sustainable basis.”

The IPO is expected to generate net proceeds of S$39.5 million, where up to S$10 million will be used in investments, up to S$5 million for business expansion across Asia and S$24.5 million as working capital.

Source – PropGuru – 27 May 2013

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Mapletree Commercial Trust launches IPO

Posted on 19 Apr 2011 | Comments Off on Mapletree Commercial Trust launches IPO

Mapletree Commercial Trust (MCT) has launched its initial public offering of more than 712 million new shares on the Singapore Exchange.

The IPO is priced at 88 Singapore cents a share and the firm is expected to raise S$893 million in net proceeds.

The trust could potentially raise up to S$983 million if the Over-Allotment Option is exercised in full.

The proceeds will be used to pay for the acquisition of two office and retail properties in Singapore’s Southern Corridor, for the repayment of loans, payment of issue and debt-related costs as well as working capital.

MCT’s initial portfolio includes VivoCity and newly acquired office building Bank of America Merrill Lynch HarbourFront as well as the PSA Building.

The 40-storey landmark PSA Building is presently undergoing asset enhancement works with three storeys of retail space named Alexandra Retail Centre currently being constructed.

It is expected to be completed by the end of the year.

Citigroup Global Markets Singapore, CIMB Bank, DBS, Deutsche Bank and Goldman Sachs are the joint bookrunners, issue managers and underwriters for the IPO.

The offer will close at 9am on April 25 and the trading of the Trust’s shares is expected to begin two days later.

Source : CNA – 18 Apr 2011

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