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IPO Chilli Ratings

IPO Chilli Ratings
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Singapore Institute of Advanced Medicine Holdings Ltd

Singapore Institute of Advanced Medicine Holdings Ltd ("Sam" or the "Company") is offering 114m new shares comprising 4.415m Public Offer Shares and 109.585m Placement Shares at $0.23 each for a listing on Catalist.  The Company aims to raise $26.2m and the majority of the proceeds will be used to repay debt and the balance for working capital. The market cap based on the IPO price is $231.8m and the offer will close on 14 Feb at 12 noon and starts trading on 16 Feb 2024 at 9am.   Principal Business SAM is a healthcare service provider using advanced technology for early and accurate diagnosis to detect and treat cancer, neurodegenerative and cardiovascular diseases.  SAM has strategic collaborations with public and private institutions for research and clinical work.  SAM's goal is to create a comprehensive one-stop ambulatory cancer centre to undertake the challenges to fight cancer and is one of the first to adopt proto beam therapy treatment in Singapore. Fi

Far East Hospitality Trust (Preview)

I took a quick glance at the draft IPO prospectus.

Just the structure alone, its is much better than the Ascendas Hospitality Trust where all the hotels are parked under the Hotel Reit and not under the business trust.

According to the email, the price will range from 86c (6% annualised yield) and 93c (6.5% annualised yield) for FY 12E.

The presence of reputable cornerstone investors are also very reassuring and it will be them who will dictate the pricing.

CDL H-Trust is trading at 5.7% yield and Ascott Residence Trust is trading at 7.2% yield. In this regard, my only complaint is that the yields are on the 'low side'. It will be good if Far East can leave some meat on the table by pricing the issue at the mid to lower end of 86 cents. If it prices it at 93c, i am afraid the upside is probably limited. My guess is 88c ? :-P

Anyway, with regards to this email, probably i will ask for some allocation and hope that it will be priced at the lower end. The hotels are mid-scale but well-located (mostly) within the Orchard area except for one Changi Village Hotel... :-P

Happy IPOing. I will give the chilly ratings when the final pricing is out but it will likely be either 1 or 2 chillis rating.

Subsequent update to this post

Please find a fact sheet about this IPO from OCBC.

Comments

Hamz said…
Will it be a good investment? I'm new to stocks and have been looking at the recent ipos.. Not sure if I should try to apply for this.. Amy advice?
Mr. IPO said…
Will let u have the chilli ratings when the final pricing is out.