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http://www.theedgemarkets.com/sg/article/secura-group-offer-112-million-shares-25-cents
SINGAPORE (Jan 20): Security company Secura Group is offering 112 million shares at 25 cents in its initial public offering (IPO).
The shares, to be listed on Catalist, come with 224 million free detachable warrants on the basis of two warrants for every one share successfully subscribed.
Four million shares will be offered to the public for subscription, while the remaining 108 million shares will be placed out.
The warrants, which will trade separately on Catalist, may be converted to one new share at an exercise price of 35 cents each and have an exercise period of three years, starting from the date of issue of the warrants.
Secura is led by chief executive officer Paul Lim, formerly the commander of Tanglin Police Division and deputy director of various departments in the Singapore Police Force.
Its substantial shareholders include Singaporean businessman and investor Peter Lim, UOB-Kay Hian executive chairman and managing director Wee Ee Chao and City Developments. They will collectively own about 52.7% of the group after the IPO.
Apart from providing security guard services, Secura owns one of the largest cheque-printing businesses in Singapore, printing and supplying chequebooks and account passbooks for various banks.
It plans to use most of its net proceeds of $26 million from the IPO to expand its security guarding business; expand its cyber security, technology and systems integration business; as well as upgrade its security printing equipment.
The IPO will close at noon on Jan 26. Trading of the shares listed is expected to start on a "ready" basis at 9am on Jan 28.
SINGAPORE (Jan 20): Security company Secura Group is offering 112 million shares at 25 cents in its initial public offering (IPO).
The shares, to be listed on Catalist, come with 224 million free detachable warrants on the basis of two warrants for every one share successfully subscribed.
Four million shares will be offered to the public for subscription, while the remaining 108 million shares will be placed out.
The warrants, which will trade separately on Catalist, may be converted to one new share at an exercise price of 35 cents each and have an exercise period of three years, starting from the date of issue of the warrants.
Secura is led by chief executive officer Paul Lim, formerly the commander of Tanglin Police Division and deputy director of various departments in the Singapore Police Force.
Its substantial shareholders include Singaporean businessman and investor Peter Lim, UOB-Kay Hian executive chairman and managing director Wee Ee Chao and City Developments. They will collectively own about 52.7% of the group after the IPO.
Apart from providing security guard services, Secura owns one of the largest cheque-printing businesses in Singapore, printing and supplying chequebooks and account passbooks for various banks.
It plans to use most of its net proceeds of $26 million from the IPO to expand its security guarding business; expand its cyber security, technology and systems integration business; as well as upgrade its security printing equipment.
The IPO will close at noon on Jan 26. Trading of the shares listed is expected to start on a "ready" basis at 9am on Jan 28.
