THE public offer tranche of media entertainment company NoonTalk Media&rsquo s initial public offering (IPO) was around 1.2 times subscribed, the company said on Monday (Nov 21).

 

Founded in 2011, NoonTalk is a Singapore-based, home-grown media entertainment company that specialises in artiste and talent management, multimedia production and event conceptualisation.

 

NoonTalk&rsquo s IPO, which comprises 22 million shares at S$0.22 apiece, will raise total gross proceeds of S$4.8 million.

 

Based on the offering price, NoonTalk&rsquo s market capitalisation is expected to be around S$43.6 million post-offering, the company said.

 

The IPO comprised a placement of 17.5 million shares to investors, and an offering of 4.5 million shares by way of a public offer.

 

At the close of the placement on Nov 17, all public offer shares were validly subscribed for, and the company received indications of interest for 5.3 million public offer shares, reaching a total value of S$1.2 million.

 

All 17.5 million placement shares were also validly subscribed for, with application monies received amounting to S$3.85 million.

 

NoonTalk expects to begin trading on the Catalist board of the Singapore Exchange (SGX) at 9 am on Nov 22.

 

Dasmond Koh, executive director and chief executive of NoonTalk, said: &ldquo Listing on SGX serves as a platform to enhance our exposure and allows us to gain access to the capital markets to extend our regional footprint.&rdquo

 

Anchor investors of the placement include energy supplier Union Energy Corporation Lim Hock Leng, managing director of Sheng Siong Group and Qilin Wealth Fund, a Singapore-based single family office.

 

Other notable investors include Dr Chong Weng Chiew, who is executive director of Citic Envirotech and previously a Member of the Parliament, as well as chief executive of Ang Mo Kio-Thye Hua Kwan Hospital.

 

Evolve Capital Advisory is the sponsor, issue manager and co-placement agent for the IPO, while CGS-CIMB Securities (Singapore) is the underwriter and co-placement agent.