OCBC is a leading provider of equity capital market services, which include initial public offerings (“IPOs”) and secondary equity issuances (i.e. rights and placement issues).
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Initial Public Offerings
Some of the landmark IPOs in which OCBC have played a leading role include:
The S$516.4 million IPO of Lippo-Mapletree Indonesia Retail Trust, the first Indonesian retail REIT in Singapore
The S$269.8 million IPO of Frasers Centrepoint Trust, the first REIT vehicle of the Frasers & Neave group
The S$99.7 million IPO of First Real Estate Investment Trust, the first healthcare REIT with Indonesian assets listed in Singapore
The S$27.5 million MacarthurCook Property Securities Fund, one of the pioneer property fund-of-funds listed in Singapore
In addition to the above transactions, we have also assisted numerous small and medium-sized enterprises (“SMEs”) to tap the equity markets for funds through IPOs. Some of these noteworthy deals in which we were instrumental as issue manager or financial adviser include:
CH Offshore Ltd, listing by introduction and via distribution of shares in specie from Chuan Hup Holdings Limited
Household names such as Tung Lok Restaurants (2000) Ltd, Qian Hu Corporation Limited, Osim International Ltd and Best World International Limited
For more information on our past IPO transactions, please click here
Secondary Equity Issuances
IPOs are but the first step to tapping the equity markets for funds. At OCBC, we have also been assisting companies with equity fund-raising in the secondary markets via a variety of different conduits such as rights issues, private placements and equity linked issues.
Some of the noteworthy transactions of which OCBC was involved in include:
S$2.17 billion rights issue of Genting International Public Company Limited
S$799.8 million private placement of Golden Agri-Resources
S$782.0 million rights issue of Parkway Holdings Limited
S$351.0 million rights issue of Pacific Andes (Holdings) Limited
S$300.0 million compliance share placement in Wilmar International Limited, following its reverse take-over of Ezyhealth Asia Pacific Limited
In recognition of our work, we were named joint winner of the Best Secondary Offering Award in South East Asia Award for 2007 for our involvement in the rights issue for Genting International Public Company Limited in September 2007.
OCBC understands that specific situations call for unique approaches, which is why we are constantly working with our clients to come out with innovative solutions that suit their specific needs. As an example, we pioneered an innovative equity fund raising structure in 2005 where companies paid out special dividends while concurrently strengthening their capital base through the issuance of rights shares. This allowed the companies to take advantage of their remaining Section 44A tax credits prior to expiration without putting unnecessary strains on their cashflow.
With this structure, OCBC was able to assist a number of companies including:
Parkway Holdings Limited
Rotary Engineering Limited
HG Metal Manufacturing Limited
Sing Investments & Finance Limited
Singapura Finance Ltd
Hong Fok Corporation Limited
Kian Ann Engineering Ltd
Grand Banks Yachts Limited
Engro Corporation Limited
Miyoshi Precision Limited
Hoe Leong Corporation Ltd
Tai Sin Electric Cable Manufacturer Limited
Federal International (2000) Ltd
For more information on our past secondary equity issuance transactions, please click here
