Sanli Environmental
Sanli Environmental, which debuts on the Catalist board today, said yesterday that its initial public offering (IPO) of 52 million new shares was 12.8 times subscribed.
The shares were offered at 22.5 cents apiece, comprising 49.5 million placement shares and a public tranche of 2.5 million.
A total of 6,287 valid applications were received for the public tranche. Altogether, these applicants applied for 625.4 million shares, with application monies received amounting to about $140.7 million.
Sanli's IPO is anchored by Temasek Holdings unit Heliconia Capital Management, private equity fund ICH Gemini Asia Growth Fund and private investor Jeremy Lee Sheng Poh.
ICH Gemini Asia Growth Fund and Mr Lee subscribed for 17.2 million placement shares.
Heliconia, which would have had a 5.36 per cent stake in Sanli after extending the firm a $2 million convertible loan in February, raised its stake to 7.97 per cent after the placement.
StarHub
Telco StarHub has priced its offering of $200 million subordinated perpetual bonds at a coupon of 3.95 per cent a year, below the initial yield guidance of 4.25 per cent.
The perps are expected to be issued on or around June 16, in denominations of $250,000. The perps are callable in five years, and so may be redeemed by StarHub at its option on June 16, 2022 or on any coupon payment date thereafter.
However, the first coupon rate reset date falls only at the 10-year mark, on June 16, 2027, with subsequent resets to occur every 10 years thereafter. The coupon rate will be subject to a step-up of 1 per cent a year from June 16, 2027.
TTJ Holdings
Structural steel provider TTJ Holdings has posted a net profit of $2.4 million in the third quarter, a fall of 82 per cent from the same period a year earlier.
The dormitory business no longer contributed to profits, since the tenure for the dormitory at Terusan Lodge I expired in January. Revenue in the three months ended April 30 was $16.8 million, a 69 per cent fall year on year, owing mainly to the decrease in the structural steel business and no revenue contribution from the dormitory business.
Earnings per share was 0.69 cent, down from 3.84 cents a year ago. Net asset value per share was 37.13 cents as at April 30, up from 35.99 cents as at July 31 last year.
