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Mint
09-08-2025
- Business
- Mint
SME IPOs hit an eight-month high, industrial sector leads in listings: NSE Market Pulse
New Delhi [India], : Small and medium enterprise initial public offerings on the NSE Emerge platform surged to an eight-month high in June, marking robust investor interest across sectors and geographies, according to the latest NSE Market Pulse report for June 2025. The initial public offering refers to the process by which companies sell their shares to the public to raise equity capital from investors. A total of 21 companies debuted on the exchanges during the month six on the Mainboard and fifteen on the SME-focused Emerge platform. In terms of sectoral activity, the industrial sector led with 13 companies collectively raising ₹ 2,176 crore, followed by the consumer discretionary segment, which saw eight companies mobilising ₹ 9,033 crore the highest among sectors. The energy sector, though smaller in terms of the number of listings, stood second in IPO proceeds, with two companies raising ₹ 2,873 crore. Regionally, Gujarat and Maharashtra topped the charts with nine listings each, the NSE monthly report said. Gujarat-based companies raised ₹ 3,374 crore, slightly ahead of Maharashtra's ₹ 3,300 crore. The National Capital Territory of Delhi, despite only four listings, recorded the highest proceeds among states at ₹ 3,657 crore. On the Mainboard, fresh capital accounted for 83 per cent of the total issue size, with the remaining 17 per cent through offers for sale . This was lower than the 93 per cent fresh equity seen in May but significantly higher than June 2024, when fresh issuances comprised just 40 per cent. For 2024-25 overall, Mainboard IPOs saw fresh issuances at only 35 per cent, with OFS dominating at 65 per cent. In contrast, the SME Emerge platform continued to be driven by new equity capital. Fresh issuances constituted 96 per cent of total proceeds in 2025-26 so far , up from 94 per cent in 2024-25. Performance on listing day was mixed twelve Emerge companies posted gains, two recorded losses, and one remained unchanged. On the Mainboard, two companies posted listing gains, three opened below issue price, and one debuted flat. This article was generated from an automated news agency feed without modifications to text.
Yahoo
12-07-2025
- Business
- Yahoo
PSC Corp's Sam Goi makes mandatory conditional cash offer of 40 cents for shares in the company
The offer comes after Goi purchased 63 million shares from Sin Huat Company on July 10 also at 40 cents apiece. PSC Corporation's executive chairman Goi Seng Hui, also known as Sam Goi, has made a mandatory conditional cash offer of 40 cents for the shares he does not own in the Mainboard-listed consumer essentials company. The offer comes after Goi purchased 63 million shares from Sin Huat Company on July 10 also at 40 cents apiece. Sin Huat's shares, which represent a 11.55% stake in PSC Corporation, brings Goi's total stake to 43.38%. According to PSC Corp's annual report for the FY2024 ended Dec 31, 2024, Sin Huat Company is deemed as a substantial shareholder behind Goi's 31.82% stake and Violet Profit Holdings Limited, which holds 24.59% of PSC's shares. A certain Ku Yun-Sen is deemed to be interested in Violet Profit's stake while Bernard Cheng Koh Chuen and Cheng Chih Kwong @ Thie Tji Koang are deemed to be interested in Sin Huat's stake. Goi's offer was made after the purchase to comply with the Singapore Code on Take-overs and Mergers. To comply with Rule 14.3 of the Code, the offer price is not lower than the price Goi had acquired the shares at in the six months immediately preceding or on July 10. This includes the price Goi paid for Sin Huat's stake. The offer price will also not be reduced or adjusted for PSC Corp's final dividend of 1.3 cents per share for the FY2024. Shareholders will still be entitled to retain its final dividend paid out for the year. The offer will turn unconditional once Goi and his concert parties hold over 50% of the shares in PSC Corp. According to the statement, Goi does not intend to 'actively pursue' the delisting of PSC from the Mainboard, although he intends to exercise his right to compulsorily acquire all the offer shares not acquired once he hits the 90% threshold. At that point, Goi will proceed to delist PSC from the bourse. The offer also extends to shareholders who have held shares in the company between December 2023 and November 2024. This was when Goi acquired additional shares in the company after his stake was increased to 30.22% from 29.97% after a series of share buy-backs conducted by the company between May 2, 2023, and Oct 16, 2023. The buybacks were conducted under a mandate approved by shareholders at PSC's extraordinary general meeting (EGM) held on April 28, 2023. Under Rule 14 of the Code, any person holding 30% or more of the voting rights of the company, will have to extend an offer immediately. On Dec 4, 2023, Goi acquired additional shares in the company when the mandate had not expired. The company also didn't announce that it bought back those shares under the mandate or that it decided to cease buying back its shares. From Dec 5, 2023, to Nov 14, 2024, Goi also bought more shares in PSC with the highest purchase price being 36 cents per share. As a result of the post share buy-back purchases, Goi's stake increased to 31.82% from 30.22%. As Goi didn't make an offer when he made the purchases between December 2023 and November 2024, people who held shares in PSC at the close of trading on the initial purchase date, Dec 4, 2023, were not given the opportunity to sell their shares. As such, the current offer is now being extended to those shareholders. Goi has also agreed to take remedial actions to put these shareholders in the same position as if the offer had been made to them. Given that the bid obligation was made at the highest purchase price of 36 cents, these shareholders will also be entitled to the offer price of 40 cents. Shareholders who have sold their shares in PSC after Dec 4, 2023, will be paid the differential amount for shares sold at less than the offer price of 40 cents from Dec 5, 2023, to July 10. The current offer price represents a premium of 11.1% of the highest purchase price of 36 cents, although it is flat compared to PSC's last-traded share price of 40 cents as at July 10. The offer price also represents a premium of 7.8%, 10.8%, 13.3% and 14.9% of the volume weighted average prices (VWAP) for the one-, three-, six- and 12-month period up to and including shares traded on July 10. The VWAP prices are 37.1 cents, 36.1 cents, 35.3 cents and 34.8 cents respectively. Shares in PSC closed 1 cent lower or 2.44% down at 40 cents on July 10. 6 bil Econ Healthcare receives privatisation offer of 33 cents per share Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click hereError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Straits Times
15-05-2025
- Business
- Straits Times
SGX RegCo proposes removing financial watchlist, avoiding public queries on listed firms
SINGAPORE – The watch-list of loss-making Mainboard companies could be scrapped, while public queries to firms displaying unusual trading activity may be avoided in favour of private engagement. These are among proposed amendments to Singapore Exchange (SGX) listing rules aimed at reducing regulatory friction and encouraging better price discovery and overall market efficiency. The proposed changes are expected to strike a more proportionate balance in facilitating market discipline and achieving investor protection, noted the Singapore Exchange Regulation (SGX RegCo) on May 15. The regulator is consulting the public on removing the financial watch-list after feedback that it has unintended negative effects on business confidence and access to financing. SGX RegCo adds a Mainboard-listed issuer on the watch-list if it has pre-tax losses for three consecutive years and an average daily market capitalisation below $40 million over the preceding six months. The proposed changes will see the list removed, although issuers will still have to announce if they incur losses for three straight years. SGX RegCo will also suspend half-yearly reviews for adding companies to the watch-list, and affected issuers will remain listed regardless of whether they meet exit criteria. The proposed changes are part of a shift towards a less prescriptive and more disclosure-based system for companies that want to list in Singapore. They come after a review group announced new measures in February aimed at reviving trading on the SGX. Alongside the proposed listing rule changes, SGX RegCo also plans to take a more targeted approach when querying firms on unusual trading activity. This reflects market concerns that issuing public queries without regard to materiality can unnecessarily alarm investors. Instead, it plans to shift its approach to privately engaging a company when unusual trading is detected. The regulator also proposes to limit the validity period of trade-with-caution alerts to an initial period of two weeks, implying that the alert will only be active for that timeframe. These alerts signal that there is unusual or potentially concerning trading activity in a particular stock, and serve as a warning to investors to be mindful of potential risks. However, these alerts can stay up indefinitely even after the issue has passed. By limiting them to two weeks, the SGX can reduce market uncertainty and prevent unnecessary long-term impact on a company's trading activity. SGX Rego also wants to refine its approach to the suspension of issuers, although it did not elaborate. More than 40 listed companies were suspended from trading as at March 31, 2024, noted an SGX report. The report also showed that the nine companies seeking share trading resumptions have been suspended for an average of 3.2 years. SGX Regco chief executive Tan Boon Gin noted that 'the effectiveness of such a market-driven approach rests on a foundation of rules and standards that assure market participants that the information on which they base their decisions is accurate and accessible, and that the market is fair'. He added that the SGX RegCo will continue to 'ensure that regulatory oversight of both corporate disclosures and trading activity remains rigorous, even as we refine the manner in which such oversight is conducted and communicated, to ensure relevant and material information for investors is disclosed'. The regulator's practices for other market surveillance activities will remain unchanged. Join ST's Telegram channel and get the latest breaking news delivered to you.
