Friday, May 29, 2015Friday, May 29, 2015

Global Invacom seeks secondary listing on London Stock Exchange

Published on Jun 26, 2014 9:14 PM

SINGAPORE - In a first for a Singapore-listed company, Global Invacom Group has announced plans for a secondary listing on London's Alternative Investment Market (AIM).

The AIM is a sub-market on the London Stock Exchange which allows smaller companies to float shares with more flexible rules, similar to the Singapore Exchange's Catalist board.

The firm plans to raise up to US$15 million (S$18.7 million) with the placement of 44.6 million new shares at 19.75 UK pence (42 Singapore cents) apiece. It intends to complete listing and placing by July 2, and "in any event" no later than Oct 31 this year.

With the new shares, the firm's share capital will increase by 23.3 per cent. Public shareholders trading on SGX will own 54.65 per cent, diluted from 65.16 per cent previously. Their counterparts on AIM will hold 16.14 per cent.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!