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Toku Ltd - Balloting Results

Toku , a Singapore-incorporated AI-powered customer experience (CX) platform, today announced the successful close of its initial public offering. The Company will be listed on the Catalist Board of the Singapore Exchange Securities Trading Limited following the completion of the offering, marking the first IPO of 2026 for the exchange.   You may refer to the ballot results below: Sharing the key highlights from the press release, as well as a quote from Thomas Laboulle, Founder and CEO, Toku.  Toku, the Singapore-incorporated AI-powered customer experience (CX) platform secures full subscription on SGX Catalist, raising  S$16.25 million  at  S$0.25  per Invitation Share.  The Public Offer attracted strong interest and was  31.9 times subscribed , from 1,115   valid applications for  63,888,300 Public Offer Sh...
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Heatec Jietong Holdings Ltd

Not another Catalist listing?!... Heatec Jietong is offering 18.5m New Shares at $0.275 each. The IPO is through placement and will close on 6 July 2009. Trading will start on 8 July 2009.

The Company is one of the leading piping and heat exchanger specialist in Singapore servicing the marine and oil & gas industries. The company made S$46.5m sales in 2008 with a net profit of $6.64m (net margin of 14%). The listing expenses is $1.44m and the net proceeds raised is $3.65m. (I can never understand why the listing fees is so high versus the amount raised... a real waste of time and money for the company...)

The company is issuing shares at around 5x PE and will have a market cap of $33.33m post listing. The company is fairly valued at the IPO price. Assuming the net profit for 2009 is slightly better and have a fair value PE of 6-8x, there could be some slight upside post IPO but for me, it is only a mediocre issue. Since this is a "placement only" issue, you will have to know someone from either DMG or Prime if you really want it..
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