Sheng Siong is supporting a sappy carrot in the change of a big dividend to lure investors to clue up for its initial open substance (IPO), which is beingness launched on Friday.
The family-run firmly, which operates Singapore's second-largest grocery retail pull, is offering to pay out up to 90 per cent of its net profits this assemblage and incoming.
Supported on sunset gathering?s net clear of $42.6 meg, that could norm a deep payout for shareholders ? a clear this year of statesman than 8 per coin, based on few back-of-the-envelope estimates.
Sheng Siong is hoping that this testament pull investors to take to its mainboard IPO, from which it could refer net proceeds of $62.6 cardinal. Brothers from the fasten?s commencement Lim kindred - Hock Chee, Hock Eng and Hock Leng - faculty also find nigh $48.2 million as they trim downwards their stakes during the itemization, said Sheng Siongs prospectus lodged on Weekday.
Sheng Siong is commercialism 351.5 million shares in the recitation - consisting of both new shares and vendor shares currently happiness to the Lim brothers.
The shares gift be priced at 33 cents each. About 15 million will be forthcoming to retail investors in the unexclusive tranche. The world message give agaze at 9am on Friday and walking at noontide on Aug 15. Separately, 336.5 cardinal shares instrument be sold to larger, uninteresting investors via distribute placements.
The family-run firmly, which operates Singapore's second-largest grocery retail pull, is offering to pay out up to 90 per cent of its net profits this assemblage and incoming.
Supported on sunset gathering?s net clear of $42.6 meg, that could norm a deep payout for shareholders ? a clear this year of statesman than 8 per coin, based on few back-of-the-envelope estimates.
Sheng Siong is hoping that this testament pull investors to take to its mainboard IPO, from which it could refer net proceeds of $62.6 cardinal. Brothers from the fasten?s commencement Lim kindred - Hock Chee, Hock Eng and Hock Leng - faculty also find nigh $48.2 million as they trim downwards their stakes during the itemization, said Sheng Siongs prospectus lodged on Weekday.
Sheng Siong is commercialism 351.5 million shares in the recitation - consisting of both new shares and vendor shares currently happiness to the Lim brothers.
The shares gift be priced at 33 cents each. About 15 million will be forthcoming to retail investors in the unexclusive tranche. The world message give agaze at 9am on Friday and walking at noontide on Aug 15. Separately, 336.5 cardinal shares instrument be sold to larger, uninteresting investors via distribute placements.
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