Wednesday, April 16, 2014

QT Vascular IPO

QT Vascular IPO seems hardly attractive. It's a loss-making company after all. Anyway, the investing public will not be able their hands on them the offering is by way of placement only.

MEDICAL device-maker QT Vascular priced its initial public offering (IPO) on Catalist at 28 Singapore cents per share to raise S$55 million for product development and working capital.

The deal will value the loss-making company at S$211.6 million upon listing.

The all-new share offering will raise net proceeds of S$50.3 million for QT, which specialises in balloon catheters. Of that amount, $30.3 million will be used for general working capital, $15 million for developing products, and $5 million for commercial expansion.

The issue price is seven times the company's net tangible asset (NTA) of 4 cents per share before listing, and 2.9 times post-dilution NTA of 9.6 cents per share.
From Business Times, "QT Vascular IPO values medical device-maker at S$212m". sure?

Cute ad. Saw it at the SMRT station & cannot help but to snap it. F&N Fruit Tree Fresh Yuzu Mixed Juice Drink is the latest addition to the F&N Fruit Tree Fresh range. More about the fruit "Yuzu" can be read here.

Candid Shot: Studious Sweet Students at Library


Monday, April 14, 2014

The kidnapped Gao Hua Yuan & RM36.4mil ransom demand

Update to "Gao Hua Yuan & Marcy Dayawan kidnapped at Singamata Adventures and Reef Resort": Semporna resort kidnap: RM36.4mil ransom demand for Chinese tourist, Gao Huayun (or Gao Hua Yuan?).

Abductors of two women from a resort off Semporna have demanded RM36.4mil for the release of a Chinese tourist, Home Minister Datuk Seri Zahid Hamidi revealed.

"We have received a note that the kidnappers have asked for 500mil pesos or RM36.4mil as ransom.

"We have sent our team to discuss with the so-called reported middle person," he told reporters here Thursday.

Zahid added that there has been no ransom demand for the Filipina hostage.

On April 2, Chinese tourist Gao Huayun (pic), 29, and Filipina resort worker Marcy Dayawan, 40, were abducted from the Singamata Reef Resort in Semporna by seven gunmen believed linked to the Abu Sayyaf militant group.

Interesting to note that there is no ransom demand for the Filipina hostage. Questions really need to be raised on why.

PACC Offshore Services Holdings or POSH IPO

PACC Offshore Services Holdings seeks up to $420m in Singapore IPO. POSH, which is part of the empire of Malaysia's richest man, Robert Kuok, operates a fleet serving offshore oilfields in Asia, Africa and Latin America. Check out its official website here.

Malaysian Bulk Carriers Bhd's (Maybulk) associate PACC Offshore Services Holdings (Posh) is planning an initial public offering (IPO) in Singapore, with a good number of the shares going to Malaysian funds, including Hwang Investment Management, sources told The Star.

The listing, scheduled for April 25, is offering some US$325 million worth of shares in Posh under the base offer, which could rise to US$370 million if the over-allotment option is exercised, bankers familiar with the matter said.

About US$300 million of the offshore supply vessel (OSV) operator's share sale is said to be already covered by key investors and funds.

"The deal should be well supported and bid for once it goes to public offering," The Star quoted an industry executive as saying.
From Business Times, "PACC Offshore Services planning Singapore IPO".

of CapitaLand offers $3 billion to take over CapitaMalls Asia

Straits Times has "CapitaLand offers $2.22 apiece for all CapitaMalls Asia shares".

Well, seems attractive considering it's a premium of 27% over CapitaMalls Asia's one-month volume-weighted average price. But if we're to compare to its listing price (listing date on 25-11-2009) with the IPO price of $ 2.12, it might not be that attractive for the long time investors of this stock. I can therefore imagine the CapitaLand offer to be not well accepted. Let's see.

Southeast Asia's largest developer CapitaLand has announced plans to take its shopping arm private.

CapitaLand is offering S$2.22 per share for all remaining shares in CapitaMalls Asia (CMA) that it does not already own, thus valuing the planned purchase at more than S$3 billion.

CapitaLand said it wants to sharpen its competitive edge in the integrated development space where it sees opportunities, particularly in China.

One of several integrated projects developed by CapitaLand is Raffles City.

The development, located in Singapore's prime downtown area, comprises offices, hotels and retail space.

It was injected into CMA when the shopping malls operator was listed in 2009 in what was then one of Singapore's largest ever initial public offerings.

CapitaLand still holds 65.3 percent of CMA but the developer said it is changing its course to seize growing opportunities in the integrated development segment, especially in China.

CapitaLand President and Group CEO Lim Ming Yan said: "The IPO gave CMA the opportunity with additional capital to grow its business. We have reached the stage over the recent two to three years, where we see a lot more opportunities in integrated developments. These are developments where for pure play shopping mall operators and owners, it's hard to operate. CMA will find it awkward to go in where there are residential, office components. But at the same time, for CapitaLand to go into some of these projects, we can't do it without CMA being a part of it."

CapitaLand said it sees growing opportunities in the integrated development sector - particularly in China where ongoing urbanisation is taking place.

Mr Lim said: "China is a market that is a lot bigger. It's also at stage where the growth is a lot faster than Singapore, which is at a different stage of development. Singapore is more mature, and of course, in terms of size, it's a much smaller market. Overtime, we'll see more of these opportunities in China than in Singapore."

CapitaLand said its offer price of S$2.22 in cash for each share is a premium of 27 percent over CapitaMalls Asia's one-month volume-weighted average price.

The offer price is also 20.7 percent higher than CMA's net asset value per share as at 31 Dec 2013.

The developer added that the deal will simplify the Group's structure significantly and allow it to get an edge in the increasingly competitive integrated development space.

Mr Lim said: "The amount of process that we need to go through to get, for example, CapitaLand to co-invest with CMA in Westgate is actually quite tedious. In a competitive situation, we would want the team to focus on getting the deal rather than to focus on making sure they fulfil all the compliance."

CMA manages 105 shopping malls, earning 43 percent of its revenue in 2013 from China, 32 percent from Singapore and most of the rest from Japan and Malaysia.
From Channel NewsAsia, "CapitaLand plans to take CapitaMalls Asia private through S$2.22 a share offer".