Valuemax to raise $70.4m in IPO
Plans to offer 138m shares at $0.51 each.
According to OSK, Singapore's biggest pawnbroker chain by revenue, Valuemax, plans to raise about SGD70.4m by offering 138m shares which is about 25.9% of the company at SGD0.51 per share in an initial public offering to expand its business.
Valuemax will be the third pawnbroker to go public and is priced at a price-earnings ratio of 12.4 times based on the group's pro forma net earnings per share for the year ended Dec 31, 2012.