NoonTalk debuts on SGX at 22.5 cents, above IPO price
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CEO and former Yes 933 radio DJ Dasmond Koh owns 62.6 per cent of NoonTalk.
PHOTO: LIANHE ZAOBAO FILE
Yong Jun Yuan
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SINGAPORE – Media entertainment company NoonTalk has debuted on the Singapore Exchange (SGX) Catalist board at 22.5 cents, 2.3 per cent above its initial public offering (IPO) price of 22 cents.
The counter eventually closed at 22 cents. This gives the stock a market capitalisation of $43.6 million. The company posted a net profit of $22,407 in its financial year ended June 30, 2022.
The company had earlier sold 22 million new shares, comprising 4.5 million public offer shares and 17.5 million placement shares. The offering raised gross proceeds of $4.8 million, or $3.3 million in net proceeds.
NoonTalk chief executive Dasmond Koh said it was heart-warming for him to see how people who have followed his progress over the years have come on board to invest in the company.
He noted that some potential investors are in their early 20s and have been fans of his since he was a radio DJ with Chinese radio station Yes 933.
“Hopefully for those who have not gotten their central depository (CDP) account, please go and get it so that later on, they can support us,” he said.
Mr Koh owns 62.6 per cent of NoonTalk. Other notable investors in the company include liquefied natural gas player Union Energy Corporation, as well as Sheng Siong Group managing director Lim Hock Leng and Citic Envirotech executive director Chong Weng Chiew. Dr Chong was an MP for Tanjong Pagar GRC from 2001 to 2006.
The company reports its revenue in two segments: the management and events segment, and the production segment. The former is made up of services such as artiste management and events conceptualisation and management, while the latter is made up of services relating to multimedia creation.
NoonTalk has provided multimedia production services for events such as Chingay 2022 and ChildAid 2021, an annual charity in aid of The Straits Times School Pocket Money Fund and The Business Times Budding Artists Fund. The company has been appointed by the People’s Association to provide production services for Chingay 2023.
NoonTalk also produces films and television programmes, as well as video content for companies such as Shopee, Eu Yan Sang and Audi Singapore.
Evolve Capital Advisory was the sponsor, issue manager and co-placement agent for the IPO, while CGS-CIMB Securities (Singapore) was also a co-placement agent and the underwriter. THE BUSINESS TIMES
