21 Mar 2016
Initial public offering
Howard Cheam, Caitlin Huang and Esther Cher from the Capital Markets / Mergers & Acquisition Practice Group are acting for Anchor Resources Limited (the "Company" and together with its subsidiaries, the "Group") in respect of the initial public offering and listing of the Company on the Catalist Board of the Singapore Exchange Securities Trading Limited, by way of a placement of 28,800,000 shares at S$0.25 per share (the "Placement"). Upon completion of the Placement, the market capitalisation of the Company is expected to be approximately S$69.9 million.
The Group is principally engaged in the business of exploration, mining and production of gold for sale in Malaysia. Headquartered in Malaysia, the Group has concession rights to the Lubuk Mandi Mine and the Bukit Panji Property, both located in Terengganu, Malaysia. The Group has on-site processing facilities, which utilises the gold treatment and extraction method of flotation, carbon-in-leach, electrowinning and smelting to produce gold.