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Singapore IPOs: Why I No Longer Cover Every Listing

Some readers may have noticed that I have not been writing about every Singapore IPO since last year. The simple reason is that life has become busier. Between my day job, an increasingly packed travel schedule, family commitments and desire to play more golf, I have become much more selective about how I spend my time.  Writing detailed IPO reviews takes time — reading prospectuses, analysing financials, comparing valuations and understanding the competitive landscape. While I still enjoy investing and writing, I no longer feel the need to cover every IPO that comes to market. Instead, going forward, I will probably focus only on IPOs where I am seriously considering investing my own money or where there is something particularly interesting that is worth discussing. I suspect this will make the blog more useful as well. Rather than writing about every deal, I can spend more time sharing my thoughts on the handful that I believe deserve attention. That bring...
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Rokko Holdings Limited

This is a 'small float' company with only 30m shares (28m placement and 2m public). It will be extremely difficult to get the shares from the public offering. Due to the small float, it is likely to be a stag on the first day but may dribble lower once investors forget about this counter. In addition, it is also in the tech sector which in my view, is not very 'exciting'. Although it is likely to be a 'stag' for IPO punters, i think investors can give this counter a miss for the following reasons:

(1) Difficult to get at the IPO

(2) Unattractive sector as it is very dependent on the semiconductor industry which is very volatile and cyclical.

(3) Fair value is only a slight premium to the IPO price.
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