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Stocks In Focus SG (Linc Energy, SMRT Corp, Singapore Press Hldgs) – 12/12/13
Linc Energy Launches Singapore IPO
Linc Energy launched its initial public offering (IPO) of 47.9 million shares at a price of $1.20 per share on the mainboard of Singapore Exchange (SGX). The company expects to raise estimated net proceeds of $47.9 million from the offering.
Linc Energy derives its revenue from three primary business segments. They are namely conventional exploration and production of oil and gas, conversion of clean energy while utilising the company’s proprietary technology in underground coal gasification as well as coal mining.
The company intends to use the net proceeds generated from the IPO as capital injection into its existing business where $42.3 million will go into its conventional oil and gas and clean energy business. The remaining $5.6 million will be dedicated for working capital and other general purposes.
Significance:Linc Energy is moving its listing from the Australian Securities Exchange to SGX where it will not only be the largest listed independent upstream oil and gas exploration and production company in Singapore but also one of the largest in Southeast Asia, by proved and probable reserves. Upon listing, it will also be the largest Singapore-listed coal company by total coal resources.
Consortium Between SMRT, LTA Unit And Others Wins Metro Manila Deal
AF Consortium, made up of a collection of companies including SMRT Corporation, MSI Global, a unit of Land Transport Authority of Singapore, Globe Telecom, Ayala Corporation and First Pacific has won a public bidding to develop a fare-collection system for Metro Manila.
The consortium’s bid of 1.8 billion pesos ($50.9 million) ranked the lowest among two other bids submitted, while the other two bidders included Berjaya Corporation and Chinese-Filipino tycoon, Henry Sy with bids of approximately two billion pesos.
Expected to be fully implemented by 3Q15, the fare-collection system aims to facilitate higher efficiency in passenger transfer to other rail lines as well as enhancing fare-collection efficiency by removing loopholes for leaks and fraud.
Significance: Under the terms by Manila’s Department of Transportation & Communications, the winning bidder may also expand the contactless card system to businesses outside the transport sector, such as to retail transactions, which potentially means that more contracts are expected to be won by AF consortium down the road.
SPH Invests In Magzster
Singapore Press Holdings (SPH), the lead investor together with co-investor Kalaari Capital, have invested in Magzter through a Series B funding of US$10 million.
Magzter is a global digital magazine store and newsstand which allows any publisher in the world to digitally publish for a global audience. The company, established in 2011, was headquartered in New York and has sales offices in various countries, including Singapore.
Magzter has more than 16 million users from over 200 countries and carries a global catalogue of thousands of magazines in more than 30 global languages. Global publishers using Magzter include Hearst (USA), Conde Nast (USA), Newsweek (USA), Bloomberg (USA), Haymarket (United Kingdom), Edipresse (Hong Kong) and SPH in Singapore.
Significance: The investment is a move for SPH to enter into another new platform for content delivery and is part of its strategy to enhance content creation and distribution.
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