News of Initial Public Offerings (IPOs) on SGX is always a welcome occurrence. Investors get more investment opportunities, and it is also a vote of confidence in the Singapore bourse.
In this instalment of 4 Stocks This Week, we looks at recent IPOs on SGX, and how they have fared so far.
Southern Alliance Mining (SGX: QNS)
Headquartered in Pahang, Malaysia, Southern Alliance Mining is principally involved in exploration, mining, processing and sale of high-grade iron ore. The company has monthly production capacity of approximately 60,000 tonnes of iron ore concetrates.
The company’s primary operating site is the Chaah Mine, which has total ore reserves of 6.1 million tonnes at 51.2% Fe (as of 31 October 2019). The company also secured rights to carry out exploration and mining operations at 3 potential iron ore sites in Johor, Malaysia.
The company stated that with the proceeds raised from the IPO, the company plans to further expand operations at Chaah Mine and commence exploration work at their potential iron ore sites, as well as expand through potential acquisitions, joint ventures or development of new mines.
Southern Alliance Mining listed on SGX Catalist on 26 June 2020 at a placement price of $0.25. The stock closed this week at $0.265.
United Hampshire US REIT (SGX: ODBU)
United Hampshire US REIT owns and manages a diversified portfolio of stabilised income-producing properties in north-eastern United States, which consists of 18 grocery-anchored and necessity-based retail properties and 4 modern, climate-controlled self-storage facilities.
The REIT serves tenants such as (but not limited to) restaurants, home improvement stores, fitness centres, warehouse clubs, and omni-channel retailers.
With the COVID-19 lockdown in the United States being gradually lifted, United Hampshire US REIT reported that they collected around 82% of base rents from retain tenants in April, and 77% in May.
United Hampshire US REIT’s placement price was USD $0.80 and it closed this week at USD $0.57.
Memiontec Holdings (SGX: SYM)
Memiontec Holdings, which derives its name as shorthand for Membrane Ionexchange Technology, is a water treatment company more than 20 years of experience, serving public sector and industrial customers.
The company has business operations and treatment plants in Singapore, Indonesia and the People’s Republic of China, leveraging on their in-house design, engineering, fabrication and assembly capabilities to provide “total solutions with engineering, procurement and construction” (TSEPC) for water treatment, wastewater treatment, water recycling treatment and sea water treatment and desalination.
Current projects in Singapore include a $33.2 million upgrading project for PUB at the Tuas South Desalination Plant (which PUB took over from the distressed Hyflux), works at Jurong Water Reclamation Plant, as well as the design, supply, installation and maintenance of the life support system of a penguin exhibit for an undisclosed wildlife park, presumably the Singapore Zoo.
In 2016, the company diversified into long-term operation and maintenance of water treatment facilities and supplying water through transfer-own-operate-transfer (TOOT) and build-own-operate-transfer (BOOT) projects, through partnerships and joint ventures.
Memiontec’s debuted on SGX Catalist at $0.225, and it closed this week at $0.22.
AMTD International (SGX: HKB)
AMTD International made history on SGX as being the first company to list under a dual-class structure. Its listing in Singapore is a secondary one, with its primary listing on NYSE under the HKIB ticker.
Based in Hong Kong, the company operates through three main segments: Strategic Investments (which makes proprietary investments), Investment Banking (helping companies raise funds through equity and debt financing, performing IPO underwriting, doing private placements and debt issuances), and Asset Management (which provides clients with asset management products and services).
AMTD has partnered with Xiaomi, Funding Societies and SP Group to jointly bid for a digital whole banking license in Singapore.
AMTD closed flat this wee at $16.20.
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4 Stocks This Week is not a recommendation from us to buy or sell any of these stocks. For investors who are keen to find out more, you should continue researching about them before making your investment decisions.