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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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ETLA Limited



I cannot find the IPO booth at Raffles Place for the last 3 days. Perhaps the Company and its Manager, DBS, doesn't feel the need to do so especially if they have already fully placed out the shares? hmm... let see if having no booth will affect the share price.

ETLA offers contract equipment manufacturing, sheet metal fabrication, and precision machining services. The prospectus is here.

Public offer: 3.8 million shares at 47 cents each
Placement offer: 34.2 million shares
Closing date: 7 Aug 2007
Manager: DBS Bank

Once again, this belong to the tech sector and once again, you know my 'dislike' for tech companies and once again i use a valuation maxtrix PE multiple of 8x-10x. (Two reasons why i dislike tech companies are: (1) they have very low net margins and (2) their products are always subject to price competition). The net profit for 2006 is S$6.86m and assuming a 50% growth (once gain, the CAGR can be misleading as they started from a low base), the 2007 net profit will be around S$10.29 million. Based on the post-ipo no. of shares of 140,691,100, the EPS is around 7.3 cents. In this regard, the fair value range will be between 58 cents to 73 cents.

All the IPOs covered by this Blog (after 07.07.07) is still in the green except for Financial One. I believe this one should open above water as well but i wont be holding on too long to it. (vested).
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