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Afor Limited IPO
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zhuge_liang
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14-Jan-2008 23:25
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Afor Ltd, a retailer specialising in the sale of Apple brand products, kicked off its IPO of 23.5m new shares at $0.33 each. The IPO comprises 1m public-tranche shares and 22.5m placement shares. The invitation shares represent about 25.1% of its enlarged share capital. Afor is the first Apple premium reseller seeking a listing in S'pore. Afor's listing application was made under the Sesdaq rules and the firm will be given a timeframe to comply with the new Catalist rules. The IPO is expected to raise about $7.8m, part of which will go towards business expansion. Based on FY07 net earnings of $3.47m, the offer price is at a historical PER of 6.65x. According to Afor, it is Asia's first Apple premium reseller, specialising in the sale of Apple brand products and its complementary products, through its EpiCentre stores located in Wheelock Place and Suntec City Mall. The IPO closes on Jan 16. The trading of shares is expected to start on Jan 18. |
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OneSharer
Veteran |
10-Jan-2008 18:39
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Price at $0.33. Closing 16 Jan. |
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