Courts Asia IPO

SpinFire

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The Enlarged Offering of 178,000,000 Shares comprises:

(a) an international placement of 76,895,000 Offering Shares to institutional and other investors in Singapore, outside the United States (the “Placement”);
(b) an offering of 8,900,000 Offering Shares to the public in Singapore (the “Public Offer”);
(c) 77,920,000 Shares offered under the Cornerstone Tranche; and
(d) 14,285,000 Shares offered under the Management Subscription Tranche.

The small public tranche of 8.9m shares is positive for those looking for quick returns.

However, from today's ST Money section article, I read that the controlling shareholder Singapore Retail Group (SRG) is using this IPO to pare its stake. It has done so 3 times in the past, and this is the 4th time. Whats more, out of total sum raised in the IPO, SRG gets $86.2m while Courts Asia gets only $43.8m. Sounds more like an exit strategy for SRG. Please correct me if I'm wrong.

The positives are that there are strong cornerstone investors, and the PER is reasonable at 10.95.
 

rine5

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476 pages:eek:

Actually i just need to know a few things:
  • Is this counter viable? (got potential etc)
  • Offering start & end dates
  • Listing date
 

SpinFire

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476 pages:eek:

Actually i just need to know a few things:
  • Is this counter viable? (got potential etc)
  • Offering start & end dates
  • Listing date

Viable or not, depends on your own analysis. :s22:

Offer closing on 11 Oct 12 at 12pm, and starts trading on 15 Oct 12.
 

Skurai

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11 PE is ok meh? Kinda high to me. They are retail. Should be tough.
 

iCuteCube

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Anyone applying?

Got no real intention on applying, let me read thru the notes first.
 
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