Monday, October 28, 2013

ValueMax (IPO)

ValueMax: Phillip Securities' initiation on MoneyMax provides color on the Spore pawnbroking segment. The industry has seen an increase in the number of pledges received from 2.8m in 2009 to 4.0m in 2012, at a CAGR of 13.0%. The amount of loans given out by pawnshops in value has more than doubled since 2009 with a 3-year CAGR of 52.2%, from $2.0b to $7.1b by CY12. Loans given out by Pawnbrokers have grown at a CAGR of 19.7% in the last ten years. ValueMax IPO closes today noon, will commence trading 30 Oct, 9am on SGX Mainboard.

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