Skip to main content

IPO Chilli Ratings

IPO Chilli Ratings
Click to understand how it works

Featured

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

Financial One

Financial One Corporation provides a variety of services to small and medium enterprises and its business include leasing, factoring and lending. The prospectus is here. I didnt too much analysis on this stock so it will not be fair for me to commend on this company. It was priced at the lower end of its indicative range. I didnt apply for the shares for the following reasons:

(1) The float is huge. 225m shares and subject to over allotment.
(2) 70% of its income is derived from Taiwan and as it is the pre-dominant player with 40% market share there, thus upside growth in Taiwan may be limited.
(3) Personally i felt that it should have listed on Taiwan Stock Exchange to command a better valuation. Perhaps it chose to list here to avoid the political situation where investments in China could be limited by politics.
(4) Investors here may not be familiar with the Company.

It opened below its IPO price and ended flat today at $1.15 (most likely this is supported by the underwriters JP Morgan and DBS Bank). Let's see if it can prove its doubters wrong.

Ratings - 1 Chilli (Avoid)

Comments