Synagie Corp eyes net proceeds of S$9.8m from Catalist IPO at 27 cents per share

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SINGAPORE (July 30): E-commerce solutions provider Synagie Corporation has launched its initial public offering (IPO) to list on the Catalist board of the Singapore Exchange (SGX), with a total of 43 million invitation shares offered at 27 cents apiece.

Some 3.8 million shares will offered via the public tranche, while the remaining 39.2 million shares will be available by way of placement. The invitation shares will represent 16.4% of Synagie’s post-invitation share capital of 261.7 million shares.

Post-IPO, Synagie is expected to have a market capitalisation of approximately S$70.7 million. The invitation is expected to raise approximately S$11.6 million in gross proceeds, and around S$9.8 million in net proceeds... (Click here to read the full story)