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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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Uni-Asia Finance Corporation


(IPO booth at Raffles Place... not the right timing to get prospectus i guess)

The Company is an Asian-based structure finance arrangement and alternative assets investment firm. The prospectus is here.

Public Offer: 3.3 million shares at $0.55 each
Placement Offer: 62.1 million shares
Manager: DBS
Closing Date: 15 Aug 2007


This IPO is priced very 'cheaply' with a Post-IPO NAV of 51.7 cents versus its IPO price of 55 cents. It is also priced at a historical 7.6x PE based on post-IPO shares of 240.4m shares and FY06 EPS. I believed this IPO will be undersubcribed if it is not priced so cheaply!

Despite being vested from the IPO placement tranche, i would advise investors to avoid this IPO for the following reasons:
  1. Companies in Structure Finance business has not performed well post-ipo. Without digging deeper into the amount of dividends paid since listing, as of 10 Aug 2007, Babcock & Brown (structured finance) is still 13% below its IPO price.

  2. Companies in "Shipping Trust" business has not performed well post-ipo as well. First Ship Lease Trust is still 7% below IPO.

  3. The business is priced in US$ and I believed US$ will continue to weaken against S$.

  4. Sentiments towards IPO has been very weak due to the recent market turmoil and the premium above its IPO price for recent listing is less than 10%.

  5. ETLA closed below its IPO price, reflecting the weak market sentiments.
While the IPO is cheap, if you are looking for a significant 'stag', I dont think you can find in Uni-Asia. My recommendation is to avoid this company if your intention is to 'punt' the IPO. Put your IPO application fee of S$2 to better use elsewhere.
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Anonymous said…
i do agree that this IPO should be avoided although like you, i am also vested through the placement tranche. In times like this, it is best to inject money in IPO and moreover, this is a structured finance IPO that is generally not well received in singapore.
12 August 2007 at 13:07
Mr. IPO said…
hahaha, what to do :) good times and bad times must support the IPOs... Wish you would have leave your name though mr annoymous... easier to communciate in future..
12 August 2007 at 14:28
Anonymous said…
2y

Did you cut loss on the first day? I sold my 2 lots at 0.52 immediately....
18 August 2007 at 11:26
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