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IPO Price of S$0.23...OPEN price at S$0.30
LIVE STREAM of their Listing HERE: https://www.facebook.com/SGX.SingaporeExchange/videos/4006143669453915
mmm how come theedge said
https://www.theedgesingapore.com/news/ipo/ots-holdings-ipo-84-times-subscribed
Copy and paste the above... i think IPO might drop after rise today due to market sentiment is poor.
OTS Holdings IPO 8.4 times subscribed
https://www.theedgesingapore.com/news/ipo/ots-holdings-ipo-84-times-subscribed
Copy and paste the above... i think IPO might drop after rise today due to market sentiment is poor.
Joelton ( Date: 17-Jun-2021 08:00) Posted:
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SGX: Join us on Facebook Live http://bit.ly/3cIxdNt tomorrow at 8.55am SGT as we countdown to the listing of OTS Holdings on SGX Catalist!
Established in 1993, OTS Holdings is a home-grown brand builder and food manufacturing group in the consumer industry. The company has a strong niche in ready-to-eat and ready-to-cook meat products with key markets in Singapore and Malaysia, and its flagship brands include &ldquo Golden Bridge&rdquo and &ldquo Kelly&rsquo s&rdquo .
Established in 1993, OTS Holdings is a home-grown brand builder and food manufacturing group in the consumer industry. The company has a strong niche in ready-to-eat and ready-to-cook meat products with key markets in Singapore and Malaysia, and its flagship brands include &ldquo Golden Bridge&rdquo and &ldquo Kelly&rsquo s&rdquo .
9am today is their debut trading day.
OTS Holdings' public offer 233.6 times subscribed
OTS Holdings, the company behind Golden Bridge luncheon meat, received applications from investors for 233.6 times the number of shares available in the public portion of its initial public offering (IPO), it said on Wednesday evening.
At the close of the public offer at noon on Tuesday, there were 3,809 valid applications for a total of a million of public offer shares, with application monies received from the applications amounting to around S$53.7 million.
The company also received indications of interest for about 110.1 million placement shares, of the 40 million (including 2.2 million reserved shares) available. This translates to a total value of about S$25.3 million and the placement being around 2.8 times subscribed.
Based on the valid applications for its public offer and indications of interest for the placement shares, the invitation was approximately 8.4 times subscribed overall.
Said OTS managing director Ong Bee Chip: " We are pleased with and thankful for the strong confidence that investors have in OTS Holdings' brand portfolio and growth plans for Asia' s consumer markets."
" With our IPO, we intend to accelerate our expansion plans in regional markets, particularly in Malaysia and the Philippines. In addition, leveraging on our R& D capabilities, we will be looking to introduce our shelf-stable plant-based food products by early 2022," said Mr Ong in a press statement on Wednesday.
Based on the invitation price of S$0.23 per share and the post-invitation share capital of 214 million shares, OTS' market capitalisation upon its Catalist listing on the Singapore Exchange will be approximately S$49.2 million.
The IPO and issuance of shares will deliver some S$7.9 million in net proceeds, of which about S$6.6 million will be due to OTS. Funds will go towards expanding the group' s regional footprint, investment in manufacturing capabilities, research and development and general working purposes.
OTS' portfolio of brands includes Golden Bridge, Kelly' s, Golden Lion and Orchid. It has targeted the growing halal food market through retail brand El-Dina and food-service brand Kizmiq through its subsidiary, Ellaziq Singapore.
SAC Capital is the sponsor, issue manager, underwriter and placement agent.