After months of close scrutiny by the MAS and SGX, the institutional portion of the 110.9 million share offering for Singapore Pearl Energy priced on Monday in the top half of its range. The 25% block of new shares was sold at S$0.70, against an indicative pricing range of S0.60 - S$0.75.
The deal gives the company a market cap of S$311 million $188 million and an IPO size of S$77.6 million $46.9 million. CLSA was lead manager for the deal. 5% of the total will be offered to the public from today. There is no greenshoe.
Pre IPO the company was 65% owned by...
