HAI Leck Holdings IPO

Hai Leck Holdings Limited is an integrated service provider of scaffolding, corrosion prevention and insulation works mainly for the oil & gas and petrochemical industries. Hai Leck Holdings launches IPO at 26 cents a share with market capitalization of S$84.5 million. The net proceeds from the issue of the New Shares (after deducting estimated issue expenses) is approximately S$19.8 million. investsgx.blogspot.com/2008/08/hai-leck-...ings-ipo-review.html

Thanks, investsgx, for ur weblog. nowadays IPO not cheap - seems to have no lack of strategic \'supporters\' for IPO placement tranche. but that has no bearing on post-listing performance. \'supporters\' also want to make quick exit!!!

I heard from sources close to the deal that 2 listed companies support the IPO. Maybe company not that bad. Have not read the prospectus in details. Please study the prospectus before making any decision yourself. :laugh:

To clarify, I am not in the view that the company is \'bad\', but I am questioning the valuation at 11 times PE ratio when others proven stock eg: Rotary / OKP etc have been sold down to very poor single digit current and forward PE ratio. Hiap Seng may not engage Hai Leck again after they ceased to be their shareholder. Think only Rotary may take a stake in HL.

MTQ Corporation has just announced that they will take a stake amounting to 4.9% of the enlarged share capital in Hai Leck, post-listing.

Rotary has taken a stake as expected, indeed a high stake of 18.8% of new share. There are synergy in their activity. A good sign. investsgx wrote:

To clarify, I am not in the view that the company is \'bad\', but I am questioning the valuation at 11 times PE ratio when others proven stock eg: Rotary / OKP etc have been sold down to very poor single digit current and forward PE ratio. Hiap Seng may not engage Hai Leck again after they ceased to be their shareholder. Think only Rotary may take a stake in HL.