Mindchamps Preschool *Official* (SGX:CNE)

[flyfox]

Actually any subject tutor is good as long as he/she is effective in making the students produce positive results. That's the bottomline for most parents. When they see their children's results improving, they would prefer to continue with the tutor.

There is advantage being a Chinese language teacher though. Most parents from our generation could not teach their children Chinese (not even primary level), so they are always looking for Chinese tuition. Hahaha!

One thing is for sure. I am definitely applying for this IPO.

Thanks DW, I see potential for this industry, but got to see it’s valuation first before applying, haha.

When everyone thinks there is potential or a great company, the investment banker would price it at a premium if they see a demand from roadshow, somemore STI is at 3.4k.

 

[appl888]

MindChamps lodges preliminary prospectus for IPO
Fri, Nov 10, 2017 - 8:20 PM Nisha Ramchandani

MINDCHAMPS PreSchool, the largest operator and franchiser of premium-range pre-school centres in Singapore, has lodged its preliminary prospectus for a mainboard listing on the Singapore Exchange.
An earlier Bloomberg report, citing sources, said that the company is seeking a valuation of about S$200 million. A representative for MindChamps declined to comment when contacted on Friday.
China First Capital Group (CFCG), Hillhouse Capital and Target Asset Management have committed to come onboard as cornerstone investors, which will give them a collective stake of 11.97 per cent in the company after the initial public offering (IPO).
In a previous filing to the Hong Kong Exchange, CFCG had said that it would subscribe for a 4.99 per cent stake in MindChamps in a financial commitment that is not expected to exceed S$11 million.
In a separate release on Friday, Singapore Press Holdings (SPH) - which owns newspapers such as The Business Times - announced that its wholly owned subsidiary, Invest Learning, has entered into a sale and purchase agreement with MindChamps to boost its stake by an additional 4.84 per cent for around S$3.95 million.
Invest Learning had previously acquired a 22 per cent stake in MindChamps for S$12 million in 2014; this move will lift its stake to 26.84 per cent.
The IPO will include an international placement to investors as well as a public offering, the document said.
MindChamps currently has 10 company-owned and 44 franchisee-operated pre-schools, and reading and writing centres across Singapore, Australia, the Philippines and the United Arab Emirates.
MindChamps said that it plans to use the net proceeds to partly repay loans as well as to fund its potential expansion plans in Singapore and overseas.

wow they have business in UAE too
wonder which brokerage got placement?

 

[zuoom]

What price education.

 

[Opps-gal]

SPH raises stake in MindChamps Preschool

https://www.theedgesingapore.com/sph-raises-stake-mindchamps-preschool

Take up so much stake, left what on the dish for public?

 

[SpinFire]

Take up so much stake, left what on the dish for public?

Maybe SPH has too much cash without much investment opportunities. But the timing of the investment just before the IPO could mean the prospects are good. Usually IPOs are for insiders to exit

 

[Jupiter2017]

http://www.businesstimes.com.sg/com...o-at-s083-per-share-to-value-company-at-s200m
MindChamps registers IPO at S$0.83 per share to value company at S$200m
Fri, Nov 17, 2017 - 12:42 PM Angela Tan angelat@sph.com.sg

MINDCHAMPS Preschool, Singapore's largest provider of premium preschools by market share, on Friday offered 30.4 million shares at $0.83 each for an initial public offering that values the company at S$200.5 million.
The offering comprises 28.4 million new shares and 2.1 million shares sold by MindChamps Holdings, an investment holding company.
Of the IPO shares, 2 million will be offered for public subscription, and 28.4 million for placement. Of the placement shares, 2.4 million shares are reserved for management.
MindChamps Holdings will sell additional shares if required to cover an over-allotment option for a further 1.8 million shares.
Cornerstone investors - comprising Hong Kong-listed China First Capital Group, Hillhouse Capital Management and Target Asset Management - will subscribe for an additional 28.9 million shares separate from the IPO.
MindChamps - whose existing shareholders include the Business Times' parent, Singapore Press Holdings - is seeking a listing on the Singapore Exchange's Mainboard.
Assuming the over-allotment option is not exercised, the offering will raise S$49.2 million of gross proceeds from both the IPO and the cornerstone placement, of which about S$47.6 million will be due to the company.
MindChamps has earmarked S$6.1 million to partially repay an outstanding acquisition loan; S$34.5 million for expansion plans, including potential acquisitions; S$4 million for general corporate purposes and working capital; and S$3 million for listing-related expenses.
The company, led by founder David Chiem, said that it has more than 8,000 students enrolled, and employs more than 1,000 teachers globally.
In Singapore, it has 36 centres, giving it a 38.5 per cent share of premium-range preschools.
The offering will close at noon on Nov 22, and the shares will start on Nov 24.

 

[Perisher]

83c, means $1 resistance.
Only 2m shares for public means likely to oversub too.

 

[SpinFire]

Anyone has info about the pricing range? Want to find out if it’s priced at top or lower range

 

[lbs]

have not gone through the gargantuan 600++ pages prospectus, but something caught my eye:
1) No dividends to be distributed from FY2017's profits (means next year no dividends?)
2) They will try to distribute 40% of earnings after which.
3) possible 1.8m more for oversubscription I think. I stand corrected on this...
Prospectus here:
https://www.shareinvestor.com/news/news.html?source=sg_si_express&nid=168776

 

[wwf]

PE seems quite high

 

[Pocoyoz]

1H 2017 net profit dropped by 50%
net tangible asset ~ 0
p/e ~ 36X

but still can tikam

 

[Opps-gal]

1H 2017 net profit dropped by 50%
net tangible asset ~ 0
p/e ~ 36X

but still can tikam

When can press? This is FIFO type?

 

[elephant84]

I jus pressed this evening. Try luck

 

[Jupiter2017]

have not gone through the gargantuan 600++ pages prospectus, but something caught my eye:
1) No dividends to be distributed from FY2017's profits (means next year no dividends?)
2) They will try to distribute 40% of earnings after which.
3) possible 1.8m more for oversubscription I think. I stand corrected on this...
Prospectus here:
https://www.shareinvestor.com/news/news.html?source=sg_si_express&nid=168776

Indicative Timetable:
18 Nov 2017, 9.00 a.m. Opening date and time for the Public Offering in Singapore.
22 Nov 2017, 12.00 p.m. Closing date and time for the Public Offering.
24 Nov 2017, 9.00 a.m. Commence trading on a “ready” basis.

 

[Average]

not applying

 

[Scrabby]

Solid stock, looking at $1.60-$1.80 within 2 years

 

[air_pork]

Not buying cos couldnt agree on their business nature. The way they drill children at the early age really saddening.

 

[JustTrade]

Did not apply as well.

 

[Broadwalk]

I apply 30000 shares today.

 

[Perisher]

Not applying. The immediate resistance is $1 for this.