HRnetGroup Limited book building exercise
We are currently collating orders for HRnetGroup Limited IPO (HRnet). This book building exercise is only for HNW / retail clients, not for institutional clients. Please note that we do not have protection for this IPO.
The Company preliminary prospectus web-link are attached at the bottom of this email for your information please.
Please reply in the following format:
1. TR code:
2. Client code:
3. Client name:
4. Indicative demand [ shares ] :
5. Offering price: S$0.80 to S$0.90 per share
1) Book building exercise is scheduled to close on the 6 June 2017 (Tues), at 12 pm.
2) To avoid duplicate order, please email your order once only.
3) IOI must be reflective of the clients' true demand. No withdrawals or amendments to the IOIs will be permitted after the book is closed.
4) 1% brokerage plus GST is chargeable for allocable demand.
5) Allocation result will be communicated via email after the prospectus is registered with MAS.
|ISSUER:||HRnetGroup Limited (“HRnetGroup”)|
|TRANSACTION TYPE:||Initial Public Offering (“IPO”)|
|LISTING:||Singapore Stock Exchange (“SGX”)|
|OFFER PRICE RANGE:||S$0.80 – S$0.90 per share|
|BASE OFFERING SIZE:||~194mm shares, 19.1% of enlarged share capital (pre-shoe)|
|OVER-ALLOTMENT:||~11mm shares (100% primary), ~1.1% of enlarged share capital|
|OFFERING STRUCTURE:||100% primary on base offering and over-allotment|
|TARGET DEAL SIZE:||S$155mm – 174mm / US$112mm – 125mm (pre-shoe) |
S$164mm – 184mm / US$118mm – 132mm (post-shoe)
|EST MARKET CAP:||S$813mm – 910mm / US$585mm – 655mm (pre-shoe) |
S$822mm – 920mm / US$591mm – 662mm (post-shoe)
|PRO-FORMA SHARES O/S:||1,011mm – 1,016mm shares (pre-shoe)|
|OFFERING TRANCHE:||- Cornerstone shares: ~104mm shares |
- Institutional Shares (excluding Cornerstone): ~84mm shares
- Singapore Retail Shares: ~6mm shares
|CORNERSTONE TRANCHE:||~S$89mm / ~US$64mm, ~54% of total offer size |
7 Cornerstone investors: Aberdeen Asset Management Asia Limited, Affin Hwang Asset Management Berhad, Credit Suisse AG (on behalf of certain of their private banking clients), en-japan inc., FIL Investment Management (Hong Kong) Limited, Meiji Yasuda Asset Management Company Ltd, TechnoPro Holdings, Inc.
|BOARD LOT:||100 shares|
|DISTRIBUTION:||Reg S only|
|LOCK-UP:||- 6 months from Listing Date for HRnetGroup, SIMCO (including certain of its direct and indirect shareholders) and Vanda 1(1) |
- Certain of the employees to be issued the GLOW Initial Shares, the Opp 1 and Opp 2 Investment Shares, the Opp 1 Loyalty Shares and the Opp 2 Buy-in Shares are subject to lock-up restrictions in respect of certain of their Shareholdings as detailed in the prospectus. 88GLOW post-IPO shareholding: ~3.5% of enlarged share capital
|USE OF PROCEEDS:||Business expansion and acquisition|
|BROKERAGE:||1.0% & applicable GST payable by all investors in the cornerstone and placement tranches|
Exchange rate used: 1USD = 1.3905 SGD
* Notes: (1) Vanda 1 is a Heliconia fund. Heliconia is a wholly-owned subsidiary of Temasek that provides growth capital to Singapore’s leading SMEs, to help them become globally competitive companies.
|INDICATIVE IPO SCHEDULE|
|Expected Pricing:||June 7|
|Public Offer Period:||June 9 to June 14|
|Expected Listing:||June 16|
Preliminary Prospectus Weblink