Jumbo Group goes big-time with $22m IPO

It will offer 88.23m shares at $0.25 each.

One of Singapore’s leading multi-dining concept F&B establishments is now ready to be taken out of the oven as it hopes to raise S$22.1 million through Catalist initial public offering.

According to a statement by Jumbo Group, UOB will be the sponsor and issue manager, while UOB Ltd and UOB Kay Hian Private Ltd. are United Overseas Bank Limited (“UOB Limited”) is the Sponsor and Issue Manager for the IPO, while UOB Limited and UOB Kay Hian Private Limited are the joint underwriters and joint placement agents.

Meanwhile, Jumbo Group says the 88,233,000 new shares at an issue price of $0.25 each represents approximately 13.8% of the company’s post-invitation share capital.

The invitation includes 2m offer shares at $0.25 each by way of public offer, and 86,233,000 placement shares at $0.25 for each placement share by way of placement and payable in full on application.

“Jumbo’s post-Invitation market capitalisation will be approximately S$160.3 million based on the Issue Price of S$0.25,” the statement said.

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