Time to do some housekeeping. Sorry i missed this IPO because it is another Catalist listing and via placement only.
SBI Offshore Limited ("SBI") is a Singapore home-grown company supply equipment to shipyards and rig builders in Asia's offshore and marine industry. The company is placing out 20m shares at 27 cents each and the market cap is $29.88 million and the company's IPO was priced at 12.08x FY08 earnings
The company generated revenue of $11.72m for FY 2008 and net profit of $2.339m.
The company generated $6.3m revenue and $1.364m net profit for 4 months ending 30 April 2009.
While the company has done well for the first 4 months, I feel the company's revenue is still too low and need to be boosted further and you can understand why this is still a Catalist listing.