MoneyMax debuts on SGX Catalist

Estimated market cap of S$106.1m.

Singapore Exchange (SGX) welcomed the listing of MoneyMax Financial Services Ltd. on Catalist under the stock code “5WJ” yesterday, August 2.

MoneyMax was established in 2008 and is one of Singapore’s largest pawnbroking chains. Through its 27 outlets, MoneyMax provides pawnbroking services and the trading of pre-owned jewellery and watches.

With an estimated market capitalisation of S$106.1 million, MoneyMax brings the total number of listed companies on SGX to 783 with a combined market capitalisation of S$954 billion.

Lim Yong Guan, Executive Chairman and CEO Of MoneyMax said, ““We are delighted to have successfully completed our listing on the Singapore Exchange and to receive overwhelming response for our IPO. Through our commitment to provide an unrivalled pawning experience in all our shops by constantly innovating and improving, we have grown from our humble beginning with just one store in 2008, to become one of Singapore’s largest pawnbroking chains with a network of 27 stores as at 14 June 2013. Today, we are also pleased to announce that we are increasing our outlets to 29 with the opening of two new outlets in Little India. We believe the listing will further enhance our public image and open up further growth opportunities. The funds raised will also help us to further expand our network of outlets and strengthen our market share in Singapore."

Lawrence Wong, Head of Listings at SGX said, “We are delighted to support home-grown MoneyMax in its capital-raising via Catalist. We look forward to their continued expansion and stand ready to support their investors and growth plans with our various corporate and fund-raising services.”