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IPO Chilli Ratings

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The Assembly Place - Balloting Results

This is probably one of the most usual press releases that went alongside the SGX announcement of the balloting results. The Company released a full presentation deck , which is actually quite informative, with information of upcoming pipeline etc (probably the Company felt that it is safer to release this after the IPO closes and not before). The balloting table is as follows: The IPO has drawn strong interest from prominent institutional funds such as Avanda Investment Management (as investment manager for and on behalf of its fund(s)) and Lion Global Investors Limited (as investment manager for and on behalf of its clients), along with prominent investors, including Mr Han Seng Juan, Mr Rudolf Jurgen August Rolles and Mr Chong Soon Kong @ Chi Suim2 , underscoring strong confidence in TAP's investment proposition. Separate from the Invitation, cornerstone investors, namely Apricot Capital Pte. Ltd., Asdew Acquisitions Pte. Ltd., Cache Capital Pte. Ltd., ICH Synergrowth Fun...
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Joyas International Holdings Limited


(IPO booth at Raffles Place - compliments from Fergus)

Joyas International Holdings Limited ("Joyas") is principally engaged in the design, manufacture, packaging and sale of metal gift and jewellery products. The Company is offering 1m shares at $0.29 for public and 27.8m shares at $0.29 for private placement. The offer will close on 11 March 2008 at 12 pm.

The profit of 1H07 is flushed with gains from disposals of lands and buildings, which was disclosed on page 46 and 66 of the prospectus. The EPS for 1H2007 (excluding gains from disposals) and using the post-invitation number of shares is 9.93 HK cents. Assuming full year EPS is 20 HK cents (1H07 x 2) or Singapore 3.56 cents.

At the IPO price of 29 cents, Joyas is priced at a historical PE of 8.15x. The market cap of the Company is S$31.1m.

Basically this is a small cap stock and the Company is already fully valued at current IPO price. Avoid.
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