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placement tranche fully taken up.
Hi KennyNg,
Most likely, it'll be Riverstone and will appear 1-2 days before trading day. Can confirm at SGX website.
Woww, So...few ppl talking about this Riverstone holding, maybe i can get better chances to collect some kopi $$$ from this ipo at $0.26c.
Hi,
I am new here. May I know how do I know wat will be the stock name which will appeared on the SGX?
Thanks in advance
Kenny
should have a good lunch money if got it
So quite here, SUBSCRIBE fast, last Nov 18 06 (12 noon)
Given its high gross profit margin of > 30%, I think it's worth a stag.
It makes specialised gloves for the HD and semiconductor industries. These custom-made clean room gloves are sold to HDD manufacturers which require them to be made to exacting specifications. It also manufactures and supply other cleanroom consumables such as finger clots and cleanroom packaging materials. Its products are exported to Asia, North America and Europe.
Prospects are good because the HD industry is enjoying double-digit growth. One competitive edge is its high customer retention rates. About 90% of its revenue come from repeat customers.
It produces about 600m pairs of gloves and 475m finger cots. Its gross profit margin is over 30%.
The company operates 3 factories - one each in Malaysia, Thailand and China. And its also has a global network of offices to sell its products overseas.
Big-name customers include HDD manufacturers such as Seagate and Hitachi Global Storage Technologies.
Malaysia-based Riverstone Holdings Ltd said it will raise net proceeds of $17.8 mln in an IPO, via an issue of 78 mln new shares at $0.26 each. The IPO comprises a retail tranche of 5 mln shares and a placement tranche of 73 mln shares.
Riverstone produces and supplies cleanroom consumables that are used in high-tech industries where certain manufacturing and assembly processes requires highly controlled dust-free and electrostatic-free environments.
"Our listing on SGX-ST, will provide us with the funds to execute our plans for our next phase of growth," Riverstone chief executive Wong Teek Son said in a statement.
"We intend to leverage on our brand, technology and network to expand our product range and penetrate into new industries," he added.
The net proceeds will used to expand production facilities by adding more machines, cleanrooms, cleanroom equipment and floor space, expand the firm's product range, invest in new technology, penetrate new industries, widen sales networks and invest in information technology and management information systems.
In 2005, the group posted a 60.5% yoy jump in net profit to MYR19.9 mln on the back of a 43.9% increase in revenue to MYR103.5 mln.
Phillip Securities Pte Ltd is the manager, underwriter and placement agent for the IPO.
The invitation will close on Nov 16 and trading of the shares is expected to commence on Nov 20.