China-based Debao Property Development has launched its initial public offering in hopes of raising about S$48 million.
It is offering 138 million shares at S$0.43 each.
Only 1.5 million shares have been set aside for the public, while the rest will be placed out.
Debao said it plans to use the net proceeds to fund existing property development and buy new sites and investment properties.
The offer opens at 9am on April 1 and will close at 12 noon on April 8.
Trading is expected to start on April 12.
From Channel NewsAsia, "China-based property developer Debao launches IPO".
Debao Property Development mencatatkan saham perdananya (IPO/initial public offering) dengan harapan dapat memperoleh dana sekitar 48 juta dollar AS. Sebanyak 138 juta saham ditawarkan dengan nilai 0,43 dollar Singapura per saham. Hanya 1,5 juta saham disisihkan untuk masyarakat.
Debao mengatakan, pihaknya merencanakan menggunakan dana untuk mengembangkan properti yang sudah ada dan membeli situs baru dan menginvestasi properti. Penawaran dibuka 1 April pukul 09.00 dan akan ditutup 8 April pukul 12.00. Perdagangan diharapkan dimulai 12 April.
Debao Property Development Ltd (Debao) adalah pengembang properti terpadu yang menggabungkan kawasan residensial menengah dan hingh-eng dengan kawasan komersial di satu lokasi di Foshan City, salah satu kota penting di Delta Sungai Pearl di Provinsi Guangdong.
Pengembang yang berkantor pusat di Guangzhou, China ini sudah membangun proyek pengembangan properti dengan total gross floor area (GFA) sekitar 635.000 meter persegi (termasuk Xinliwan Garden dan Debao Garden). Tahun 2008, Debao mengakuisisi Foshan Nanhai Guiyu Property Development Co., Ltd.
From Kompas, "Pengembang Properti China, Debao akan IPO".
Or using Google Translate from Bahasa Indonesia to English:
Debao Property Development listed the shares debut (IPO / initial public offering) in the hope of obtaining funding of about 48 million U.S. dollars. A total of 138 million shares were offered at 0.43 Singapore dollars per share. Only 1.5 million shares set aside for the public.
Debao said it hopes to use the funds to develop the existing property and buying a new site and invest the property. Offer opened 1 April at 09.00 and will be closed 8 April at 12.00. Trade is expected to begin April 12.
Debao Property Development Ltd. (Debao) is an integrated property developer which combine residential and medium-eng hingh with commercial areas at one location in Foshan City, one of the important cities in the Pearl River Delta in Guangdong Province.
Developer headquartered in Guangzhou, China is already building a property development project with a total gross floor area (GFA) of approximately 635,000 square meters (including Xinliwan Debao Garden and Garden). In 2008, Foshan Nanhai Debao acquired Guiyu Property Development Co.., Ltd..
Update on 12/04: one of the top 20 Volume traded stocks (as expected of any newly listed counter). Pity it's closed at 40.5 cents--which is lower than its offered IPO price of 43 cents.
