26 August, 2015
Stephenson Harwood (Singapore) Alliance advised United Overseas Bank Limited, the Sponsor, Issue Manager, Underwriter and Placement in the Initial Public Offering (IPO) of Soo Kee Group Ltd.
Soo Kee Group, an established jeweller headquartered in Singapore with one of the largest networks of over 60 retail stores in Singapore and Malaysia, raised gross proceeds of approximately S$33.7 million from the IPO. The Group plans to use the proceeds for the expansion of its network of retail stores and introduction of new product lines; capital expenditure for its new Changi Business Park headquarters; repayment in part of loans; and for working capital and general corporate purposes.
Based on an offer price of 30 cents per share, and a post-IPO share capital of 562.5 million shares, the market capitalisation of the company stands at approximately S$168.8 million.
The shares began trading on the Catalist board at 9am (Singapore time), Thursday 20 August 2015.
The Stephenson Harwood (Singapore) Alliance team was led by corporate finance partners Elaine Beh and Douglas Koh.
