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Australia's Straits Resources Singapore unit's IPO
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ngch12
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01-Nov-2006 15:42
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big float, unable to move much in price. |
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YongJiu
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01-Nov-2006 15:03
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Straits Asia Resources Singapore IPO priced at 0.60 sgd discount 0.12cts, lelong sell =) |
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YongJiu
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28-Oct-2006 18:26
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Hope this IPO is not the same like Macquarie Int Infra... till now which is still under water level. |
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YongJiu
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28-Oct-2006 18:17
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Macquarie Securities is the underwriter. any comments? |
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YongJiu
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28-Oct-2006 18:14
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Thermal coal mining on Sebuku Island, South Kalimantan, Indonesia. IPO at 72cst seem to be on the expensive side. |
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YongJiu
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27-Oct-2006 09:35
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Subscribe? |
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YongJiu
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27-Oct-2006 09:28
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SINGAPORE (XFN-ASIA) - Australian-listed
Straits Resources Ltd expects to raise up to 252 mln sgd in net
proceeds from the initial public offering (IPO) here of unit Straits
Asia Resources, Straits Asia Resources said. Straits Asia Resources is based here but mines coal in Indonesia. Straits Resources is selling a minimum of 320 mln shares in Straits Asia Resources at 0.72 sgd each, and another 48 mln shares may be sold to cover oversubscription, Straits Asia Resources said. At least 14 mln of the IPO shares will sold to retail investors and the rest to institutional investors through an international placement. The IPO will reduce the stake that Straits Resources holds in Straits Asia Resources to 64.6 pct from from 100 pct if the over-allotment option is not exercised, or to 59.4 pct if the over-allotment option is fully exercised. The IPO is being handled by Macquarie Securities as issue manager, global coordinator, bookrunner and underwriter. BNP Paribas Peregrine and CIMB-GK Securities are the sub-underwriters. Final pricing for the IPO will be fixed on Tuesday, the day the offering closes. Trading in the shares is expected to begin on Nov 3. The estimated net proceeds of the IPO will be a minimum of 218.5 mln sgd if the over-allotment option is not exercised and a maximum of 252 mln sgd if the over-allotment option is fully exercised. The earnings of Straits Asia Resources have steadily grown over the last three years, rising from a net loss of 1.50 mln usd in 2003 to a net profit of 17.11 mln usd in 2004 and a net profit of 44.36 mln usd last year. In the first half of this year, the company made a net profit of 26.48 mln usd, compared to 16.63 mln usd a year before. |
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