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The Assembly Place IPO

   The Assembly Place Holdings Ltd. IPO Overview Company:   The Assembly Place Holdings Ltd. Listing venue:  Singapore Exchange (SGX) —  Catalist  board Offer type:  IPO (Public Offer + Placement + Cornerstone) Sponsor / Issue Manager:  SAC Capital Private Limited The Company is offering 50.3m shares of which 48.3 will be via placement and the balance 2m shares via public offering.  The IPO will close on 21 Jan 2026 noon and start trading on 23 Jan 2026 at 9am.   Business Description The Assembly Place (TAP) is  Singapore’s largest  community living operator * by number of keys under management, operating under an  asset-light  model that leases and manages accommodation properties rather than owning them outright. As at 17 Dec 2025, TAP managed  ~3,422 keys across ~100 property assets  in Singapore, spanning multiple living sectors. TAP’s portfolio includes: Residential co-living  spaces (for singles a...
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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)
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