Singapore Stock Market News

Global Premium Hotels (GPH) IPO

StockFanatic
Publish date: Fri, 20 Apr 2012, 04:17 PM
StockFanatic
0 10,453
Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
1. Listing Statistics
Global Premium Hotels plans to raise up to S$117m in gross proceeds (S$112.1m net) by offering 450m new shares at S$0.26 each. An over-allotment option of 67.5m shares is available.

i)Substantial shareholder Fragrance Group Ltd. (stake of ~55%, assuming overallotment option is not utilized) agreed to a 6-month moratorium on any possible sale of its stake.

ii)13m offer shares will be available to the public and 437m via placement.

Indicative Date and Events
1)Close of Application : 24 April noon
2)Balloting : 25 April
3)Ready-basis trading : 26 April 9am

Use of Net Proceeds
1)S$74.8m Partial repayment of the purchase consideration to Fragrance Group
2)S$30.0m Development and expansion of hotel business and operations in Singapore and overseas
3)S$7.3m Working capital purposes
Read more ''
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment