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IPO Chilli Ratings

IPO Chilli Ratings
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OTS Holdings Limited

OTS Holdings Limited ("OTS" or the "Company") is offering 41m shares for IPO at 23 cents each, of which 40m is via placement and only 1m is available for the Public Offering. The Public Offer will close at 12 noon on 15 June 2021 and start trading on 17 June 2021. Based on the IPO price of 23 cents, the market cap is $49.22m. Principal Business The Company was established in 1993 and develops and owns a portfolio of consumer brands in the ready-to-eat and ready-to-cook meat products in Singapore and Malaysia.  OTS currently has more than 1,100 stock keeping units ("SKUs") across 13 main product types under 6 house brands.  You can see samples of the brands and products below. The Company has a vision to develop a growing portfolio of established consumer brands and to become an innovative market leader in the region. Golden Bridge and Kelly's are the flagship brands and have become established household brands for ready to eat and ready to cook meat p

Econ Healthcare (Asia) Limited - Balloting Results

Econ Healthcare ("Econ" or the "Company") announced that its public offering of 1.8m shares was 86.9x subscribed. Including the 48.2m placement shares, the offering was around 4.1x subscribed.

Mr Ong Chu Poh (王再保), founder, Executive Chairman and Group Chief Executive
Officer of Econ Healthcare, said: "We are highly encouraged by the response we have
garnered for our IPO, which is indicative of the investing public's recognition of Econ
Healthcare's growth potential. We believe that our established track record of 30 years of
experience in senior care, as well as our resilient business model, will enhance the
Group's market position in the industry as we scale and expand our service offerings."
"We are committed to serve the senior community, and bring the best of care and service
to families and communities in the region. I am confident that we are in a good position
to capture the growth opportunities that exist with the growing ageing population in
Singapore, Malaysia and China," added Mr Ong.

The  balloting table is below for your reference.

Looking at the balloting table, I believe investors who applied for the IPO will be very upset and rightly so! Investors who are not allotted should feel very lucky instead.

The Company has basically made it difficult for public investors to sell their shares. Imagine you applied for 100,000 shares and you were allotted 1,500 shares. You can't even flip the shares at 30c as you can't cover your brokerage fees. Personally I think the Company should not have adopted this allocation strategy and irritate the investors. It should have allocated a more meaningful sum even if it means a lower probability of getting those shares via balloting. 

The Company also didn't announce any institutional investors coming in for this offering, which doesn't bode well for post-IPO market support as well.

Let's see how it performs on Monday...


Unknown said…
You are so right.
Anonymous said…
I have been following this blog since few months. I think the chilli rating is great. and the explanation of each new IPO is very comprehensive. too bad I didn't buy this stock. now already 44% went up.
Anonymous said…
OTS IPO u covering?
Anonymous said…
What's your take on OTS IPO?
Mr. IPO said…
Saturday will work on it. Still have time. 🤣