UnUsUaL IPO: Placement shares of 97m shares at $0.20 each.
- Placement agent: Hong Leong Finance
- To raise $17.4m in net proceeds which will be used to expand its operations locally and regionally as well as expand its access to event and concert venues. Also exploring possible acquisitions, JVs and investments
- Reported 9M16 net profit of $3.8m (+40.4%) although revenue slipped 28.1% to $16m after SG50 celebrations in 9M15. Earnings were supported by expansion in gross margin to 37.6% (+10.1ppts) as it utilised internal resources for more of its projects instead of outsourcing.
- Post IPO, mm2 Asia will own a 41.9% effective stake (prior: 51%) in UnUsUaL, while founders, Ong brothers will own a collective 40.2% effective stake.
Indicative timetable:
6 Apr, 1200hrs: Closure of placement application
10 Apr, 9am: Commencement of trading.
UnUsUaL Catalist IPO Prospectus can be found here: http://bit.ly/unusualprospectusFactsheet can be found here: http://bit.ly/unusual-ipo-factsheet
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