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21-25 of 25
Anyone into this new upcoming IPO?
Unionmet, which makes indium ingots used in flat-panel displays and solar energy batteries, plans to raise $37 million in its initial public offering in Singapore, according to its prospectus on Monday.
The IPO was priced at $0.37, the upper end of an indicative range of $0.32-$0.38 each.
Stirling Coleman Capital Ltd. is the lead manager, while UOB Kay Hian is the underwriter for the listing.
Unionmet plans to raise $32-$38 million in its IPO, sources told Reuters. Unionmet plans to issue 100 million new shares, representing 27% of its enlarged share capital, priced at $0.32 to $0.38 each in the IPO, the sources said. Stirling Coleman Capital Ltd. is the lead manager, while UOB Kay Hian is the underwriter for the listing.
Unionmet has a production plant in Liuzhou, China.
Indium, a silvery-white metal, is used to produce liquid-crystal and plasma display monitors for computers and televisions. It is also increasingly used to make thin film solar cells.
Unionmet also derives zinc from the process of extracting indium, which in turn is used to make galvanised steel for the automobile and construction industries.
It mainly produces and sells indium ingots - an essential raw material for flat planel displays and solar energy batteries. It also sells zinc related by-products in the extraction process, which are used in the car and construction industries.
It hopes to develop products used in 3G mobile comms, satellite comms and optic fibre comm devices in the near future.
Net proft for the year ended Nov 30, '05 was US$8m, while revenue totalled US$26.1m. For the 6 months to May this year, it reported net profit of US$4m and revenue of US$22m.
Unionmet (Singapore) Ltd., which manufacturers indium ingots that are used in semiconductors, plans to sell new shares in an IPO to raise funds for expansion.
The company, which has a manufacturing plant in Luihou, Guangxi in China, plans to sell 100 million new shares or 27% of its enlarged share capital, according to its prospectus on Friday.
Indium is a silvery-white metallic element used to make mirrors, semiconductors, metal bearings and certain alloys. Stirling Coleman Capital Ltd. is the lead manager and UOB Kay Hian the underwriter for the listing.