Ang Kong Hua was Civmec's earliest pre-IPO investor.

CIVMEC – Aussie mining services IPO staged to shine

Ausgroup is finally getting a peer listing in Singapore.    Aussie mining engineering services provider  Civmec will commence trading on the Singapore bourse this Fri.

Civmec is raising S$20.4 million from the issue of 51 million new shares at 40 cents apiece. Another 50 million vendor shares were also sold.

The market has great appetite for this IPO. Out of a total invitation of 101 million shares, only 2 million (less than 2%) were available for public subscription.

The other 99 million shares were placed out, thanks to the hype created by its star-studded line-up of pre-IPO investors as follows:

1. Ang Kong Hua, Chairman of several blue chip companies in Singapore (GLP, Sembcorp, GIC Special Investments)

2. Foo Siang Guan (Director, SIA Engg & Sembmarine)

3. Goh Geok Ling (Chairman of Sembmarine)

4. Ng Kee Choe (Chairman, NTUC Income & Singapore Power)

5. Wong Yuen Weng (former Mediacorp CEO)

6. Alex Yeo (ex-CEO of Swissco. He is also the son of Swissco founder/ex-Chairman Yeo Chong Lin)

The company generated net profit of S$7.5 million for FY2011 translating into EPS of 1.5 cents per share based on its post-invitation share capital.

Applications for the IPO close today at 12 noon.