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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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MindChamps Preschool Limited - Balloting Results


MindChamps Preschool Limited announced that its overall IPO was 21.4x subscribed and the public tranche was 83x subscribed. Other than the Cornerstone Investors, Institutional investors who has been allotted 5% of more of the Offering Shares include:
  • ICH Capital Pte Ltd
  • Island Asset Management Pte Ltd
  • JF Asset Management Limited
  • SUTL Holdings Pte Ltd
Mr. David Chiem Phu An, Founder CEO and Executive Chairman of MindChamps PreSchool
Limited said: "The positive demand from both institutional and retail investors is a strong testament to MindChamps PreSchool's unique investment proposition and cutting-edge 3-Mind education model. Building on our leading position as the largest operator and franchisor of premium preschools centres in Singapore, we plan to strengthen and expand our presence overseas to take the MindChamps movement from Singapore to the world and capture the growth of the early childhood education industry globally."

"The successful listing is an important milestone in our efforts to empower more students with the values, mindset and skills to achieve their full potential in life. Going forward, we will continue to uphold and maintain our reputation for excellence and  deliver long-term value to all our stakeholders - from students, to parents and shareholders alike."

Public Offering Balloting Table

The balloting table is presented below. There are less retail friendly and reward the "rich", where if you apply for 1m shares, you will be guaranteed of 28,000 shares. Investors who applied for 1 to 19,000 shares have a 10% chance.

Mr. IPO has a few shares from placement but wasn't "lucky enough" for its ATM application...


Good luck to those who managed to get some! 

Happy Mindchamping...
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Anonymous said…
any reason that they choose to allocate to all applicants who applied more than 1 mil? Its unlike other IPO balloting right where huge application will also be subjected to balloting (i.e. ratio)?
23 November 2017 at 21:50
Mr. IPO said…
It's really up to the issuer and bankers...
23 November 2017 at 22:12
Unknown said…
Any write-up on No Signboard?
24 November 2017 at 08:22
Anonymous said…
same here, waiting for the write up on no signboard
24 November 2017 at 16:52
Mr. IPO said…
This weekend. :)
24 November 2017 at 18:17
Unknown said…
Am waiting for your review for no signboard
25 November 2017 at 08:32
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