Sports event organiser Kin Global has launched its IPO, seeking to raise gross proceeds of $10.1 million and net proceeds of $7.4 million so as to fund acquisitions down the road.
"With Singapore positioning itself as a global events hub, we see significant opportunities ahead, and our listing will provide us with the platform to accelerate our growth, which in turn creates long-term value for our shareholders," says executive chairman Ko Chee Wah.
At 23 cents, the shares are offered at an implied PER of 8.71 times, based on its earnings for the year ended Sept 30 2025.
Besides the public offer of 1 million shares, there is the bigger placement tranche of 23.93 million shares.
In addition, a group of cornerstone investors have taken up another 19.17 million shares.
They are Amova Asset Management Asia, Apricot Capital, Asdew Acquisions, Ginko-AGT Alpha Fund VCC, ICHAM Master Fund VCC, Qilin Wealth Fund, and Rudolf Jurgen August Rolles.
