XMH ipo offer at 0.25c

I see something in this XMH IPO, the same as $TXO$V.

its similar, different is it size and capacity. 

Invitation in respect of 100,950,000 milliom shares, shares comprising 85,000,000 new shares and 15,950,000 vendors shares as follows.

(a)  1,500,000 offer shares at 0.25c by way of  public offer,

(b)  99,450,000 placement shares at 0.25c by way of placement conprising of,

(i)  91,950,000 placement shares at 0.25c each; and

(ii) 7,500,000 reserved for independent directors, management, employees and business associates.

http://info.sgx.com/webipo.nsf/6bb750ded0ac3f93482574d4002bc92b/938bf6519cfa419c4825781b0006f029/$FILE/XMH%20Holdings%20Ltd%20Prospectus%20-%2014%20Jan%2011.pdf

See page 48 for invitation statistic, PE Patio 5.9 times,

it orders book of $72.4 million as of  latest practical date

It prospects, pickup, from global shipbuilding industry, especially demand for their own in house brand and solution.

engine (or electricity) driven propeller-based propulsion systems to power vessels.

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XMH IPS “e-Gen” - The Group’s brand of in-house range of marine and industrial power generating sets. Offers customers a choice between standard and customised packages; - With the benefit of the Group’s technical knowhow and the wide range of products distributed, the Group is able to design, execute and deliver this one-stop integrated solution to vessel owners requiring diesel.