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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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Smartflex Holdings Ltd

Smartflex Holdings Ltd is a provider of IC module assembly and testing sevices for contact and dual interface smart cards based in Singapore.

The Company is offering 13m New shares at $0.22 each where 1.5m shares is via public offering and the rest via placement. Offer will close on 15 July at 12pm. The market cap is S$18.1m.

Revenue grew from US$14.6min FY 2007 to US$18.1m in FY2009. Profit after tax grew from US$1.2m to US$1.9 during the same period. EPS based on post IPO shares will be 2.33 US cents for FY2009. Based on post IPO shares and assuming service level agreement is in place in FY2009, the company is being listed at a PER of 6.65x.  The company intends to pay out 20% of its net profit attributable to sharesholders as dividend for FY2010.

The IPO is fairly priced and the market cap is too small. I personally dont favour such tech counters for long term investing and would avoid this IPO.
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