01 Apr 2017
Privatisation Scheme of Arrangement by Oscar Investment Private Limited for the Shares and Warrants in TEE International Limited
Danny Lim, Penelope Loh and Caitlin Huang are advising Oscar Investment Private Limited in its privatisation and delisting of TEE International Limited, which is listed on the Main Board of the SGX-ST, pursuant to a scheme of arrangement under Section 210 of the Singapore Companies Act, whereby Oscar Investment is offering cash or new shares for existing shares of TEE International. Based on the offer price of S$0.215 per share, the group is valued at approximately S$148 million. The group has three business divisions, comprising businesses in engineering, real estate and infrastructure.
29 Mar 2017
Anchor Resources Limited's issue of exchangeable bonds and guaranteed non-convertible bonds
Danny Lim and Caitlin Huang are advising Anchor Resources Limited, which is listed on the Catalist Board of the SGX-ST, in the issue of S$2 million exchangeable bonds by a subsidiary and S$2.875 million guaranteed non-convertible bonds by the company to Luminor Pacific Fund 2 Ltd. and a private investor respectively, which proceeds are to be utilised to strengthen the group's financial position and advance its strategic plans. The group's existing business is exploration, mining and production of gold for sale in Malaysia.
21 Mar 2017
QT Vascular Ltd. - Capital commitment agreement with GEM Global Yield Fund LLC SCS
Danny Lim and Caitlin Huang have advised QT Vascular Ltd., which is listed on the SGX-ST Catalist, in its S$10 million capital commitment agreement with GEM Global Yield Fund LLC SCS ("Investor") whereby the Investor agreed to grant the company an option to require the Investor to subscribe for new shares of the company, for up to an aggregate of S$10 million or a maximum of 178 million new shares, and for the Company to issue to the Investor warrants of up to 35 million new shares with an exercise price of S$0.10 each to raise up to S$3.5 million. The Investor also agrees to enter into an additional capital commitment of S$10 million on the same terms within a period of 6 calendar months, as and when required by the Company in its absolute discretion.
QT Vascular is engaged in the design, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of complex vascular diseases. It collaborates with industry specialists and physicians who are key opinion leaders to develop and offer physicians and patients new and differentiated devices to improve outcomes in complex peripheral and coronary interventions.
20 Mar 2017
Initial public offering and listing of Kimly Limited
Partner Hoon Chi Tern and Associates Esther Cher and Ng Su Rong from the Capital Markets / Mergers & Acquisitions Practice have acted for Kimly Limited (“Kimly”) in its initial public offering on the SGX-ST Catalist.
Kimly is the largest traditional coffee shop operator in Singapore with 26 years of experience. Kimly operates and manages 56 coffee shops and three industrial canteens under the Kimly and third party brands while five other food courts, located mainly in tertiary institutions, are managed and operated under the “foodclique” brand. It also operates Mixed Vegetable Rice, Teochew Porridge, Dim Sum, Seafood “Zi Char” food stalls and a Live Seafood Restaurant, catering to a broad and varied customer base.The public tranche of Kimly’s initial public offering was oversubscribed by more than 335 times, and the entire offering was approximately 8.3 times subscribed.
Kimly raised approximately S$44 million and its market capitalisation at the time of listing was approximately S$290 million.