ValueMax (IPO)

ValueMax: Plans to offer 138m new shares at 51 cents each and is set to be Singapore's first pawnbroking chain to list on the mainboard. VALUEMAX Group, Singapore's biggest pawnbroking chain by revenue, is seeking about $70.4m in an initial public offering to expand its business. ValueMax will be the third pawnbroker to go public, after Maxi-Cash Financial Services and MoneyMax Financial Services made their debuts on the Catalist board in the past 18 months. The invitation is priced at a price-earnings ratio of 12.4x based on the group's pro forma net earnings per share for the year ended Dec12. As a guide, Maxi-Cash trades at 42.8x, Money max trades at 18.6x.