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Singapore Institute of Advanced Medicine Holdings Ltd

Singapore Institute of Advanced Medicine Holdings Ltd ("Sam" or the "Company") is offering 114m new shares comprising 4.415m Public Offer Shares and 109.585m Placement Shares at $0.23 each for a listing on Catalist.  The Company aims to raise $26.2m and the majority of the proceeds will be used to repay debt and the balance for working capital. The market cap based on the IPO price is $231.8m and the offer will close on 14 Feb at 12 noon and starts trading on 16 Feb 2024 at 9am.   Principal Business SAM is a healthcare service provider using advanced technology for early and accurate diagnosis to detect and treat cancer, neurodegenerative and cardiovascular diseases.  SAM has strategic collaborations with public and private institutions for research and clinical work.  SAM's goal is to create a comprehensive one-stop ambulatory cancer centre to undertake the challenges to fight cancer and is one of the first to adopt proto beam therapy treatment in Singapore. Fi
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Heatec Jietong Holdings Ltd

Not another Catalist listing?!... Heatec Jietong is offering 18.5m New Shares at $0.275 each. The IPO is through placement and will close on 6 July 2009. Trading will start on 8 July 2009.

The Company is one of the leading piping and heat exchanger specialist in Singapore servicing the marine and oil & gas industries. The company made S$46.5m sales in 2008 with a net profit of $6.64m (net margin of 14%). The listing expenses is $1.44m and the net proceeds raised is $3.65m. (I can never understand why the listing fees is so high versus the amount raised... a real waste of time and money for the company...)

The company is issuing shares at around 5x PE and will have a market cap of $33.33m post listing. The company is fairly valued at the IPO price. Assuming the net profit for 2009 is slightly better and have a fair value PE of 6-8x, there could be some slight upside post IPO but for me, it is only a mediocre issue. Since this is a "placement only" issue, you will have to know someone from either DMG or Prime if you really want it..
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