NoonTalk debuts on Singapore Exchange at 22.5 cents, above IPO price
Post-IPO, NoonTalk chief executive Dasmond Koh will hold a 62.6 per cent stake in the company.
PHOTO: The Business Times
PUBLISHED ONNovember 22, 2022 2:26 AMByYong Jun Yuan
MEDIA entertainment company NoonTalk has debuted on the Singapore Exchange (SGX) Catalist board at $0.225, 2.3 per cent above its initial public offering (IPO) price of $0.22.
This gives the stock a market capitalisation of $44.5 million, and a price-to-earnings ratio of 1,988. The company posted a net profit of $22,407 in its FY2022 ended Jun 30.
The company had earlier sold 22 million new shares, comprising 4.5 million public offer shares and 17.5 million placement shares. The offering raised gross proceeds of $4.8 million, or $3.3 million in net proceeds.
Koh owns 62.6 per cent of NoonTalk. Other notable investors in the company include liquefied natural gas player Union Energy Corporation, as well as Sheng Siong Group managing director Lim Hock Leng and Citic Envirotech executive director Dr Chong Weng Chiew. Chong was a member of parliament for the Tanjong Pagar GRC from 2001 to 2006.
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The company reports its revenue in two segments: the management and events segment, and the production segment. The former is made up of services such as artiste management and events conceptualisation and management, while the latter is made up of services relating to multimedia creation.
NoonTalk has provided multimedia production services for events such as Chingay 2022 and ChildAid 2021, an annual charity in aid of The Straits Times School Pocket Money Fund and The Business Times Budding Artists Fund. The company has been appointed by the People’s Association to provide production services for Chingay 2023.
NoonTalk also produces films and television programmes, as well as video content for companies such as Shopee, Eu Yan Sang and Audi Singapore.
Evolve Capital Advisory was the sponsor, issue manager and co-placement agent for the IPO, while CGS-CIMB Securities (Singapore) was also a co-placement agent and underwriter.
The article was first published in The Business Times.