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Some Surprises in IPO Market
It is hard to believe anyone would be able to pull off a public share offering in 2009 and as one would expect, there were very few successful listings in Asia. Based on our records, Singapore-based bunkering company Yujin International was the only Asian shipping company that had found success in the IPO market. Interestingly, the company chose to list not in Asia but on the London AIM in a deal organized by nominated advisor and broker Seymour Pierce. The size may be small, but to have a Singapore company listing on a small alternative market in London is a big step. The company listed with 30,000 shares priced at GBP 0.33 each, making its total market capitalization after expenses just shy of GBP 10 million.
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Tags: · Bombay Stock Exchange, China International Capital Corp, China Shipbuilding Industry Co, China Shipbuilding Industry Corp, Citigroup, Enam Securities, JM Financial, London AIM, Malaysia Stock Exchange, National Stock Exchange of India, Pipavav Shipyard, SBI Capital, Seymour Pierce, shipyard IPO, TAS Offshore, Yujin International
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