Neo Group launches Singapore IPO

The IPO opened at 9:00 am on 3 July 2012 and will close at 12:00 noon on 9 July 2012.

The Initial Public Offering of 22 million New Shares at S$0.30 each was in conjunction with Neo Group Limited’s listing on the Catalist Board of the Singapore Exchange Securities Trading Limited.

The IPO of 22 million New Shares, comprising 1 million Offer Shares available to the public for subscription and 21 million Placement Shares, represents 15.3% of the Group’s enlarged share capital of 144 million shares.

At S$0.30 per share, the IPO is priced at a price earnings ratio of 6.8 times based on the Group’s historical earnings per share of 4.41 cents for the financial year ended 31 January 2012 and pre-IPO share capital of 122 million shares.

Trading of Neo Group’s shares is expected to commence on a “ready” basis at 9:00 am on 11 July 2012.
CIMB Bank Berhad, Singapore Branch is the Sponsor of the IPO while CIMB Securities (Singapore) Pte. Ltd. is the Underwriter and Placement Agent.