Retail chain Sheng Siong Group Ltd. has priced its Singapore initial public offering at S$0.33 per share, according to a prospectus filed with the Monetary Authority of Singapore Thursday.
The group is seeking to offer 351.5 million shares. The offer comprises about 201.5 million new shares and about 150 million vendor shares.
The pricing is below the indicative range of S$0.36 to S$0.40 per share provided by people familiar with the transaction last month.
The IPO is expected to raise S$62.6 million in net proceeds, the prospectus said.
The group, which operates 24 retail outlets throughout Singapore, reported revenue of S$628.4 million in 2010. It is expected to list on the main board of the Singapore Exchange Aug. 17.
Oversea-Chinese Banking Corp. is manager and underwriter for the offer.
The group is seeking to offer 351.5 million shares. The offer comprises about 201.5 million new shares and about 150 million vendor shares.
The IPO is expected to raise S$62.6 million in net proceeds, the prospectus said.
The group, which operates 24 retail outlets throughout Singapore, reported revenue of S$628.4 million in 2010. It is expected to list on the main board of the Singapore Exchange Aug. 17.
Oversea-Chinese Banking Corp. is manager and underwriter for the offer.
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