IPO
UNI-Asia Finance ipo on offer ar 55ct
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Uni-Asia launches IPO
By CHOW PENN NEE
MAINBOARD aspirant Uni-Asia Finance Corporation launched its initial public offering (IPO) yesterday, offering 65.4 million new shares at 55 cents each.
Assuming full exercise of an over-allotment option, the IPO is expected to raise gross proceeds of $41.4 million.
The company arranges financing of transport-related assets such as ships and aircraft, and the provision of ship charter arrangement and agency services, acting as the arranger and agent for the structured financing provided by third-party financial institutions.
Investing in alternative assets such as distressed debt is another mainstay of the company's business.
Established in Hong Kong 11 years ago by Japanese bankers Motokuni Yamashiro, Kazuhiko Yoshida, Michio Tanamoto and Takanobu Himori, the group - which recorded net profits of US$11.4 million last year - now has 32 staff in three offices in Tokyo, Hong Kong and Singapore.
Kazuhiko Yoshida, chief executive of Uni-Asia, said: 'Launching our initial public offering in Singapore is very strategic for Uni-Asia's growth plans because of Singapore's position and reputation as one of the leading financial and maritime hubs in the world.'
Of the total net proceeds from the IPO, about US$12.2 million will be used to invest in its first Singapore ship investment fund. About US$2.6 million will be used to further finance the company's investment in Rich Containership SA, which will acquire a new container vessel.
A miss for me, remember ipo profit s so much thining and even closed below water, at best +ve vest by BBs onlr, small player like me 1-2 lots is not enuff to pay back comm$$$.
exposure to shipping, japan real estate...
profits pretty steady... worth a try..
what do u reckon teeth53?
i will give this one a miss..
| Underwriter: |
DBS Bank Ltd |
Registered Date: |
08/08/2007 |
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Issue Manager: |
DBS Bank Ltd |
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List of Associated Documents |
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