Aztech Global *Official* (SGX:8AZ)

[Shion]

Aztech Global files draft IPO prospectus, 18 cornerstone investors named

https://www.theedgesingapore.com/ne...ipo-prospectus-18-cornerstone-investors-named

Aztech Group, which was privatised back in 2017 by executive chairman Michael Mun, plans to list its technology unit Aztech Global.

The company has on Feb 24 filed its preliminary prospectus with the Monetary Authority of Singapore to list on the Singapore Exchange’s mainboard.

Prior to its delisting back then, the Aztech Group, which was known for making PCs and peripherals, ventured into a mixed bag of businesses including building material supply, marine services, and most notably, a $4 million acquisition of a roast meat stall.

Mun’s plan to seek a listing for Aztech Global was first reported back in Dec 2019.

In a press release on Feb 24, Aztech Global describes itself as “a key technology enabler for the connected world of tomorrow”, focusing on one-stop design and manufacturing services.

Its key products include Internet of Things (IoT) devices, data-communication products, LED lighting products and other electrical products. Aztech also jointly provides contract manufacturing services to other companies.

As at Feb 15 2021, Aztech has over 290 customers worldwide, with its products sold in over 40 countries.

For the most recent 9MFY2020, the company reported earnings of $30.5 million, down from $35.3 million in the year earlier. Revenue in the same period was $262.2 million, down from $326.2 million in the preceding year’s Jan to Sept period.

For whole of FY2019, it reported earnings of $47.2 million on revenue of $428.8 million – a significant improvement from FY2018’s earnings of $20 million and revenue of $346.8 million.

According to the draft prospectus, the list of 18 cornerstone investors for this IPO include several Malaysia based institutions such as Affin Hwang Asset Management; AIA Bhd; AIA Investment Management Private; Employees Provident Fund Board; Hong Leong Assurance Berhad.

Other cornerstone investors include various entities such as DBS; Eastspring Investments; FIL Investment Management; HSBC Global Asset Management; JPMorgan Asset Management; Lion Global Investors.

 

[Shion]

Prospectus

https://eservices.mas.gov.sg/opera/...c.aspx?shrID=6dda99e3058148d58a51df742bde80e0

 

[Shion]

Aztech Global launches IPO on SGX Mainboard, to raise gross proceeds of $297.0 mil

Aztech Global launches IPO on SGX Mainboard, to raise gross proceeds of $297.0 mil

https://www.theedgesingapore.com/ne...o-sgx-mainboard-raise-gross-proceeds-2970-mil

Aztech Global, the technology unit of Aztech Group, has launched 68.12 million shares priced at $1.28 each through its initial public offering (IPO) on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST) on March 4.

The IPO is expected to raise gross proceeds of some $297 million from the invitation and the issuance and sale of the cornerstone shares.

The invitation comprises a placement of 64.62 million offer shares to investors, including institutional and other investors in Singapore and outside the US, and another 3.5 million offer shares for the public offer.

The estimated net proceeds, after the estimated expenses, will be around $283.7 million, of which $188.6 million will be due to the company.

Aztech says it intends to use the proceeds primarily for the expansion and enhancement of the group’s manufacturing facilities, as well as expansion of the group’s business including investments, mergers and acquisitions and joint ventures.

Upon the invitation and the issuance of the new cornerstone shares, the number of shares in Aztech will stand at 773.72 million. The market capitalisation of the company will be around $990.4 million.

The company filed its IPO draft prospectus on Feb 24, and revealed its 18 cornerstone investors on the same day.

According to a press release, Aztech’s key products include Internet of things or IoT devices, Data-communication products and LED lighting products supported by its core strength in research and development (R&D), design, engineering and manufacturing.

“The group also provides one-stop design and manufacturing services to blue chip customers, technology start-ups and other companies with innovative products,” it states.

The group, which was incorporated in 1986, has an established reputation and a strong track record of over 30 years in the electronics industry and over 25 years in communication and networking technology.

As at Feb 15, Aztech’s outstanding order book stood at around $307.9 million, all of which are expected to be delivered or completed within FY2021.

From FY2017 and FY2019, the group’s EBITDA grew at a compound average growth rate (CAGR) of 80.7% from $19.7 million to $64.3 million. During the same period, the group’s net profits climbed at a CAGR of 106.5% from $11.1 million to $47.2 million.

For the 9MFY2020 ended September, Aztech saw 19.6% lower revenue y-o-y at $262.2 million, though EBITDA stood at similar levels at $44.0 million from $47.2 million in the 9MFY2019.

“We are delighted to share this momentous milestone for Aztech as we prepare to embark on our next stage of growth. Our experience over the past 30 years and proven track record in innovating and introducing products aligned to the evolving electronics industry have put us in a solid position to ride on the robust growth in the IoT, Data-

communications and LED lighting industries,” says Aztech’s executive chairman and CEO Michael Mun.

“We have transformed from an Original Equipment Manufacturer (OEM) player into a full-fledged manufacturer, providing one-stop design and manufacturing services to global blue chip customers. Our resilient business model with globally diversified sales channels for our products and services have reaped excellent results as seen from our track record of profitability,” he adds.

“We would like to share our growth journey with investors to participate in our growing and resilient business, to further solidify and strengthen our presence in the technology industry, both locally and abroad.”

The public offer will close at 12pm on March 10. The listing and trading of Aztech’s shares is expected to commence at 9am on March 12.

UOB and Maybank Kim Eng Securities are the joint issue managers for the invitation.

 

[Shion]

Reserved for future updates

 

[Shion]

Reserved for future updates

 

[发哨子2020]

Remind me of Aztech pc .

 

[Shion]

Prospectus and Product Highlight Sheet
https://eservices.mas.gov.sg/opera/...c.aspx?shrID=6dda99e3058148d58a51df742bde80e0

 

[yumsang]

Michael Mun jin ho dong

 

[starbugs]

I remember the roast meat stall.

What became of it? Shareholders can get discounted roast meat?

Jokes aside, this bit of precedent is enough for me to avoid this IPO.

 

[vsvs24]

Think I rather apply for the Astrea VI IPO coming out next week.

 

[SpeedingBullet]

LOL. Wanna cash out twice, not gonna make this guy rich.

 

[bluethesky]

I remember the roast meat stall.

What became of it? Shareholders can get discounted roast meat?

Jokes aside, this bit of precedent is enough for me to avoid this IPO.

They can declare 1kg or more char siew as dividend for shareholders. win win for everyone.

 

[Nofear40]

Aztech Global launches IPO on SGX Mainboard, to raise gross proceeds of $297.0 mil

https://www.theedgesingapore.com/ne...o-sgx-mainboard-raise-gross-proceeds-2970-mil

Aztech Global, the technology unit of Aztech Group, has launched 68.12 million shares priced at $1.28 each through its initial public offering (IPO) on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST) on March 4.

The IPO is expected to raise gross proceeds of some $297 million from the invitation and the issuance and sale of the cornerstone shares.

The invitation comprises a placement of 64.62 million offer shares to investors, including institutional and other investors in Singapore and outside the US, and another 3.5 million offer shares for the public offer.

The estimated net proceeds, after the estimated expenses, will be around $283.7 million, of which $188.6 million will be due to the company.

Aztech says it intends to use the proceeds primarily for the expansion and enhancement of the group’s manufacturing facilities, as well as expansion of the group’s business including investments, mergers and acquisitions and joint ventures.

Upon the invitation and the issuance of the new cornerstone shares, the number of shares in Aztech will stand at 773.72 million. The market capitalisation of the company will be around $990.4 million.

The company filed its IPO draft prospectus on Feb 24, and revealed its 18 cornerstone investors on the same day.

According to a press release, Aztech’s key products include Internet of things or IoT devices, Data-communication products and LED lighting products supported by its core strength in research and development (R&D), design, engineering and manufacturing.

“The group also provides one-stop design and manufacturing services to blue chip customers, technology start-ups and other companies with innovative products,” it states.

The group, which was incorporated in 1986, has an established reputation and a strong track record of over 30 years in the electronics industry and over 25 years in communication and networking technology.

As at Feb 15, Aztech’s outstanding order book stood at around $307.9 million, all of which are expected to be delivered or completed within FY2021.

From FY2017 and FY2019, the group’s EBITDA grew at a compound average growth rate (CAGR) of 80.7% from $19.7 million to $64.3 million. During the same period, the group’s net profits climbed at a CAGR of 106.5% from $11.1 million to $47.2 million.

For the 9MFY2020 ended September, Aztech saw 19.6% lower revenue y-o-y at $262.2 million, though EBITDA stood at similar levels at $44.0 million from $47.2 million in the 9MFY2019.

“We are delighted to share this momentous milestone for Aztech as we prepare to embark on our next stage of growth. Our experience over the past 30 years and proven track record in innovating and introducing products aligned to the evolving electronics industry have put us in a solid position to ride on the robust growth in the IoT, Data-

communications and LED lighting industries,” says Aztech’s executive chairman and CEO Michael Mun.

“We have transformed from an Original Equipment Manufacturer (OEM) player into a full-fledged manufacturer, providing one-stop design and manufacturing services to global blue chip customers. Our resilient business model with globally diversified sales channels for our products and services have reaped excellent results as seen from our track record of profitability,” he adds.

“We would like to share our growth journey with investors to participate in our growing and resilient business, to further solidify and strengthen our presence in the technology industry, both locally and abroad.”

The public offer will close at 12pm on March 10. The listing and trading of Aztech’s shares is expected to commence at 9am on March 12.

UOB and Maybank Kim Eng Securities are the joint issue managers for the invitation.

Did not see on internet banking?

 

[CaptainTeo]

No for me.

 

[ctstalin]

Not gonna get conned

Posted from PCWX using HD1900

 

[apriliasiao]

low ball shareholders and now want to milk again.. sibei clever sia.

 

[wonderfulblevic]

I read and reread and still don’t understand what’s so special about it’s business that any typical china or Vietnam factory can’t do for cheaper. Finally stopped reading at “would like to share journey with shareholders”.

 

[starbugs]

This company reminds me of Amtek Engineering.

Delisted in 2007 at $1.10/share. Owners then sucked cash from the company and loaded debt.

Relisted again at $1.30 in 2010. First day closing price $1. Dropped all the way to 50c within 2 years. Later renamed Interplex.

Delisted again at $0.82 in 2016.

Shareholders screwed several times over.

 

[apriliasiao]

Ya alot of fuk up companies doing this. Got to go in with eyes open big big.

Sent from Apollo 13 using GAGT

 

[SeekingPrivateReturns]

Gonna skip this - not going to invest in a company/management that is not friendly to minority shareholders. Delist-relist pattern to squeeze money from public.

Delisted in 2017 at $0.42 against NAV of $0.952

https://www.straitstimes.com/business/aztech-gets-mandate-to-delist-from-sgx