IPO-mania: Starland, Global Premium Hotels Launch Singapore IPOs

Got this article from Bizdaily and find that many A property developer and a hotel operator launched separate initial public offerings (IPOs) Thursday, both looking to tap into the recovering equities market in Singapore.

Singaporean property developer Starland Holdings Limited priced its IPO at S$0.22 per share that will help the firm raise S$4.9 million. Starland will list 22.2 million new shares in the Catalist board of
Singapore Exchange, which represents about 15.3 per cent of its post-placement share capital of 144,733,000 shares. At the IPO price of S$0.22, it is priced at a historical price to
earnings ratio of approximately 14.2 times. The placement price also represents a discount of approximately 47.9 per cent over the adjusted NAV (net asset value) per share.

Starland plans to use the net proceeds of approximately S$3.1 million to acquire and build up its landbank for future development as well as for general …