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Nta $1.57 share px $0.56...
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Starship
Supreme |
12-Mar-2021 12:41
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Aztech Global' s IPO public offer 18.4 times subscribed THU, MAR 11, 2021 - 6:40 PM AZTECH Global received applications from retail investors for 18.4 times the number of shares available in the public portion of its initial public offering (IPO), it announced on Thursday. With 3.5 million shares available to the public for subscription, it received 4,143 valid applications for about 64.42 million shares, with application monies received amounting to some S$82.5 million. Additionally, the company, which is in the business of the Internet of Things (IOT) and data communication, received indications of interest for about 1.06 billion placement shares, of the 64.62 million available. This results in its placement shares being some 16.4 times subscribed. Overall, based on the 68.12 million offer shares available for subscription under its IPO, assuming that the over-allotment option is not exercised, the invitation was 16.5 times subscribed. Michael Mun, executive chairman and chief executive of the company, said: " The subscription and application results are testament to Aztech' s strong investment proposition and a strong vote of confidence for our group' s growth plans and proven track record in innovating and introducing products aligned to the evolving electronics industry." He added: " Our successful listing also serves as a strategic platform for us to attract capital and the right talent, as we seek to grow and capitalise on opportunities to realise our business strategies and future plans." Based on the invitation price of S$1.28 and the post-invitation share capital of 773.72 million shares, Aztech' s market capitalisation will stand at S$990.4 million. Separately, a total of 18 cornerstone investors including DBS, acting on behalf of some wealth management clients the Employees Provident Fund Board JPMorgan Asset Management (Singapore) and HSBC Global Asset Management (Hong Kong) had subscribed for 163.88 million shares at the invitation price. The estimated net proceeds due to the company from the invitation and issuance and sale of cornerstone shares, after deducting the relevant expenses, will be S$188.6 million. UOB and Maybank Kim Eng Securities were the joint issue managers for the IPO. UOB, Maybank Kim Eng Securities, and DBS were the joint global coordinators, bookrunners and underwriters for the IPO. Trading of shares is expected to commence at 9am on Friday. https://www.businesstimes.com.sg/companies-markets/aztech-globals-ipo-public-offer-184-times-subscribed |
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zillion
Master |
10-Mar-2021 11:53
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any idea how much was our temasick chartered semiconductor taken over at? heard long ago so many investors lost big big.
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bloodseeker
Member |
10-Mar-2021 11:15
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curious how much of the company' s shares will be subscribed...lets wait and see.... | ||||
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look@bright
Elite |
09-Mar-2021 09:36
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invitation in respect of 68,120,000 Offer Shares comprising: (1) 3,500,000 Public Offer Shares by way of Public Offer and (2) 64,620,000 Placement Shares by way of Placement |
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Just4win
Supreme |
09-Mar-2021 09:33
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I am watching ... karma will come to him eventually .
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SpinAround
Member |
08-Mar-2021 22:31
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Yes, delist bully minority SH with offer 42 cents value Aztec only 20 mil. 4 years later listing part of that business at 990 mil, almost 50x increase. Seriously, magician ? How can money come so easily to him? Regulators, are they doing their part to let this smelly thing to go on.
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SeePehJiaLat
Senior |
08-Mar-2021 16:47
Yells: "Can or not?" |
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The management has treated the minority shareholder like an idiot..... If this counter lacks investors' interest, over time the price will drift lower. Is Mr. Mum going to buy cheap again??? I will certainly won' t fall for it the second time !!! Good luck to those who think he can make some quick money..... |
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bloodseeker
Member |
08-Mar-2021 15:54
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Just like what https://singapore-ipos.blogspot.com/ says... this stock is worth ZERO chilli |
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hotelgrand
Master |
08-Mar-2021 13:37
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This Aztech IPO was for 68120000shares@$1.28/share.publicoffer is 3500000 shares,compared with delisting price of $0.42, it is a rip off! Also no mention of Kay Lee roast meat business, maybe the chairman bought over as his personal business. The key business segments of this new company are (1)internet of Things(IoT) devices and data communications products and (2) LED lighting products which will form 82.6% of turnover. Key markets in the prospectus identified as USA and Europe(92%) this company never had any success in these countries before! So if not for J-V, the 2 segments in E-V with foreign partners how to do business? | ||||
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zillion
Master |
08-Mar-2021 13:29
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Try not to fall in love with any counter for too long. If management is not trust worthy how come got cornerstone investors makan 163,880,000 shares at invitation price at $1.28? All in after post ipo market cap will be ard $990.4m. Surely these cornerstone investors are not blind! I dont go for long term fundamentals, I go for technicals.
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SeePehJiaLat
Senior |
08-Mar-2021 12:50
Yells: "Can or not?" |
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I think for those ex-Aztech shareholders, they had learnt a lesson. For the to be new shareholders, it is really upto them whether there is money to be made and decide. Regardless, any shareholder will need to consider the prospect of the company and the management team. In my opinion, this is the same old management team who had bulldozed the privatization and swallow up most of the minority shareholders for personal gain. The question is : can you trust the management, will they consider minority shareholders' interest? I seriously doubt...... | ||||
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Bry_2004
Member |
08-Mar-2021 12:14
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List it.. Price decrease.. privatize it..Retailers suck thumb..Better avoid.. The whole scenario could repeat again | ||||
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look@bright
Elite |
08-Mar-2021 11:51
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question is why SGX allow it to list again. Too desperate?
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hotelgrand
Master |
08-Mar-2021 11:50
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[08/03, 10:42] +65 9688 2636: Aztech group power. Delisted at 20mil Market cap (50mil shares @ 42c) now list back a partial company of that for 990mil market cap (700mil shares at $1.28) [08/03, 10:42] +65 9688 2636: Aztec new IPO is a rip off, where only fools will believe the major shareholders non-sense | ||||
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zillion
Master |
08-Mar-2021 11:39
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In fact all ipos behave same way. saw too many got abandon after a few years. some S-chips purposely let its share price sink until bottom then go for delisting. some funny background (macam black money type) listed to get a clean slate, few years delisted to get cleaned money. As a player we have to be quick and not hug it until death! Never fell in love with stocks! | ||||
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bloodseeker
Member |
08-Mar-2021 11:38
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Another GameStop in the making? 
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Just4win
Supreme |
08-Mar-2021 11:31
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Don' t avoid but keep this in yr watchlist . Perhaps join the short and let it sink deep deep |
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look@bright
Elite |
08-Mar-2021 11:20
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i heard many retailers will short this counter so i think better to avoid ba. | ||||
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ahberngh
Elite |
08-Mar-2021 11:13
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We should always keep track of major shareholders who low ball minority shareholders in difficult times. These bloodsuckers have no decency and can never be trusted in future. |
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Just4win
Supreme |
08-Mar-2021 11:09
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10min to seal a 4M deal for Roast Meat joint , and even with $500K more than asking price . Wow !!! This 4M $ came whose pocket?? Mr Mun himself??? He doesn' t like to bargain? So doen' t need t o think to throw $ into the sea? Keep away from this counter . The top mgmt is questionable. |
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