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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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KTL Global Limited



KTL is a supplier of rigging equipment and related services to customers mainly in the offshore Oil & Gas and marine industries.

Public - 2m shares at $0.28
Placement - 38m shares
Manager: Philip Capital

FY07 (30 June 2007):

Revenue : S$41.8m
Net profit: S$10.3m ($6.1m comes from sale of Leashold property)
EPS: Singapore 2.6 cents
Market cap based on IPO price : S$44.8m

After stripping out the one-time gain from sale of leasehold property, the net profit is $4.17m and based on 160m post-ipo shares, EPS is Singapore 2.6 cents. Assuming FY08 grow by 30%, EPS will be Singapore 3.38 cents. Based on IPO price of 28 cents, it is trading at forward PE of 8x. Assuming a PE range of 8-10x, the fair value is between 27 cents to 34 cents. A small upside from IPO price.

I will give it a miss due to the low number of shares for public tranche as well as the fact that it is within its fair value range.
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