Our Deals

Food Innovators Holdings Limited

Food & Beverage

October 2024

Food Innovators Holdings debuts on Catalist

Food Innovators Holdings Limited (“FIH”) made a successful debut on the Catalist board of the Singapore Exchange (SGX), marking a new era for the company and its commitment to delivering exceptional Japanese and Japanese-inspired European cuisines across Asia. FIH issued 14 million shares at a price of S$0.22 with strong enthusiasm from investors. The Public Offer Shares were oversubscribed by approximately 6.3 times, while all Placement Shares were subscribed up by both individual and corporate investors.

Winking Studios Limited

Gaming

November 2024 and July 2024

Winking Studios achieved Dual Listing on SGX and AIM and Placement Exercise within first year of IPO

Winking Studios Limited, a prominent game art outsourcing and development company, has completed various strategic capital-raising exercises to fuel its growth and expansion plans.

PeakBayou Ltd

Marine and Energy

December 2024

PeakBayou’s Acquisition of AMOS Group

PPCF was the Financial Adviser to PeakBayou Ltd. ("PeakBayou") who launched a voluntary unconditional general offer to acquire all issued ordinary shares of AMOS Group Limited ("AMOS"), a company listed on the Mainboard of the Singapore Exchange (SGX-ST) on 25 September 2024. The offer closed on 12 December 2024, with PeakBayou successfully acquiring a significant majority of AMOS's shares.

Silverlake Axis Ltd

Financial Services

November 2024

IFA to Silverlake Axis Ltd. for Voluntary Unconditional Offer

E2I Pte. Ltd. ("E2I") launched a voluntary unconditional offer to acquire all issued and paid-up ordinary shares of Silverlake Axis Ltd. ("SAL"). The consideration of the offer was at the election of shareholders of either (i) a cash consideration; or (ii) a cash and redeemable preference share in E2I. PPCF was appointed as the Independent Financial Adviser (IFA) to the independent directors of SAL.

Keppel Ltd

Energy

April 2024

IFA to Keppel Ltd. for Interested Person Transactions

PPCF was appointed by Keppel Ltd. as the Independent Financial Adviser (IFA) to evaluate on the terms of various proposed interested person transactions, including amendments to the Capacity Tolling Agreement (CTA) and Operations and Maintenance Services Agreement (OMSA), issuance of up to S$656.5 million in shares, and procurement of letters of credit amounting to up to S$30 million.

PPCF assessed whether the transactions were conducted on normal commercial terms as so to opine that the IPTs were not prejudicial to the interests of shareholders and Keppel Ltd. Our IFA letter was presented to the Board of Directors and appended in the circular sent to shareholders. At the EGM held on 23 April 2024, shareholders approved the transactions, facilitating KMC’s refinancing and operational restructuring.

Singapore Institute of Advanced Medical Holdings Ltd

Healthcare

February 2024

Singapore Institute of Advanced Medical Holdings successfully listed on Catalist

Singapore Institute of Advanced Medicine Holdings Ltd. (“SIAMH”), a healthcare service provider specializing in advanced diagnostic and treatment technologies, successfully listed on the Catalist board of the Singapore Exchange (SGX) in February 2024. PPCF served as the Sponsor, Issue Manager, Underwriter, and Placement Agent for the Initial Public Offering (IPO).

The IPO raised gross proceeds of S$26.2 million through the issuance of 114 million new shares at S$0.23 each, comprising Public Offer Shares and Placement Shares. The public offer segment received strong support which was fully subscribed, reflecting investor confidence in SIAMH's mission to establish a comprehensive one-stop ambulatory cancer center. The capital raise allows SIAMH to utilize for acquiring new equipment, upgrading facilities, working capital, and repaying bank borrowings.

3Cnergy Limited

Hospitality

January 2024

ProsperCap lists on Catalist following successful RTO of 3Cnergy

3Cnergy Limited completed the reverse takeover (RTO) by DTP Inter Holdings Corporation Pte. Ltd., a subsidiary of Thailand-based conglomerate DTGO Corporation in January 2024. 3Cnergy was renamed to Prosper Cap Corporation Limited ("ProsperCap"), focusing on investments in the global hospitality and lodging-related market.

ProsperCap owns 17 predominantly upscale hotels, totalling 3,383 rooms, located in key regional cities across the United Kingdom. These properties operate under franchise agreements with renowned international hotel brands, including Hilton, IHG, and Marriott.

In conjunction with the RTO, Prosper Cap completed a compliance placement to raise gross proceeds of S$69.3 million at S$0.33 per share. PPCF was the Sponsor and Financial Adviser, and sole Placement Agent for the compliance placement.

Boustead Projects Limited

Real Estate

January 2024

IFA to Boustead Projects for General Offer and Exit Offer

Boustead Singapore Limited (the "Offeror") launched a voluntary unconditional general offer to acquire all issued and paid-up ordinary shares of its subsidiary, Boustead Projects Limited ("BPL"). The Offeror initially offered S$0.90 per share, which was subsequently increased to S$0.95 per share on February 22, 2023.PPCF was appointed as the Independent Financial Adviser (IFA) to provide fairness opinion to BPL's independent directors in relation to the offer.

The offer closed on 27 March 2023, with the Offeror and its concert parties acquiring approximately 95.5% of BPL's total issued shares. As a result, BPL no longer met the Singapore Exchange's free float requirement of at least 10% public shareholding. Consequently, BPL loss its free float and the trading shares was suspended on the SGX.

Following which, SGX issued a notice of compliance for directed delisting in September 2023. The Offeror and BPL then issued a joint announcement for an exit offer (“Exit Offer”) in relation to the directed delisting. The Exit Offer was put forth at an exit offer price of S$1.18. PPCF was again appointed as the IFA to the BPL's independent directors.

TSH Resources Berhad

Agriculture

September 2023

TSH Resources successfully secondary listing on Mainboard of the SGX

TSH Resources Berhad, a Malaysian-based oil palm plantation company, successfully completed a secondary listing on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) by way of introduction on 26 September 2023. The company is principally engaged in oil palm cultivation and the processing of fresh fruit bunches into crude palm oil and palm kernel. This strategic move aimed to expand and diversify the company's shareholder base, improve trading liquidity, and provide additional avenues for fundraising.

PPCF acted as Financial Adviser to TSH and was instrumental in facilitating TSH Resources' successful entry into the Singapore capital market, enhancing the company's visibility and accessibility to a broader spectrum of investors.

Pasture Holdings Ltd

Pharmaceutical

June 2023

Pasture Holdings marks its debut on Catalist

Pasture Holdings Ltd., a Singapore-based pharmaceutical products and medical supplies company, successfully listed on the Catalist board of the Singapore Exchange (SGX) on 9 June 2023. The Company successfully raise gross proceeds of S$5 million at S$0.25 per share. The funds raised are intended to strengthen existing business segments, expand the company's global footprint, and explore new business collaboration opportunities.

As Full Sponsor, Issue Manager, Underwriter, and Placement Agent, PPCF guided Pasture Holdings through the listing and fund raising process.

Sakari Resources Limited

Mining

March 2023

Completion of Engagement as IFA to Sakari Resources

In February 2023, PT Sintesa Bara Gemilang ("Offeror"), an Indonesian integrated energy and resources company, initiated a mandatory unconditional cash offer to acquire all issued and paid-up ordinary shares of Sakari Resources Limited ("Sakari").

To ensure an objective evaluation of the offer, Sakari's Board of Directors appointed PPCF as the Independent Financial Adviser (IFA) to provide guidance to the independent directors. PPCF's role was to assess the fairness and reasonableness of the offer, enabling the independent directors to make informed recommendations to shareholders.

NIO Inc

Automotive

May 2022

NIO successfully dual-lists on Mainboard of the SGX, HKEX and NYSE

NIO Inc., a leading premium smart electric vehicle manufacturer headquartered in China, completed its secondary listing by way of introduction on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) in May 2022. With primary listing on the New York Stock Exchange (NYSE) and a secondary listing on the Hong Kong Stock Exchange (HKEX), the secondary listing on SGX marked another significant milestone in NIO's journey toward broadening its investor base and enhancing its global market presence.

NIO viewed Singapore as a strategic hub for its long-term growth, leveraging the city-state’s robust capital markets and strong investor interest in innovative industries. The secondary listing underscores NIO's commitment to fostering a global presence while offering diversified trading venues for its shareholders.

Cheung Woh Technologies Ltd

Manufacturing

June 2021

IFA to Cheung Woh Technologies on Voluntary Conditional Offer

In May 2021, Woh Seng Holdings Pte. Ltd. (the "Offeror") launched a voluntary conditional offer to acquire all issued and paid-up ordinary shares of Cheung Woh Technologies Ltd. excluding those already held as treasury shares or owned by the Offeror. PPCF acted as the independent financial adviser to independent directors of Cheung Woh to provide a fairness opinion.

AMTD International Inc

Digital Solutions

April 2020

AMTD International successfully dual-lists on Mainboard of the SGX and NYSE

AMTD International Inc. (now known as AMTD Idea Group), a subsidiary of AMTD Group, a one-stop business services and digital solutions platform, successfully completed a secondary listing by way of introduction on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST) on 8 April 2020. This listing marked AMTD International as the first company to be dual-listed on both the NYSE and SGX-ST, and the first with a dual-class share structure to list in Singapore. This strategic move aimed to enhance AMTD International's visibility and accessibility to investors in the Asia-Pacific region, leveraging Singapore's dynamic capital market to connect with global investors.

PPCF was appointed as the Financial Adviser to oversee the secondary listing procedure and ensuring compliance with SGX regulations.

CPH Ltd

Environmental Services

October 2020

Shanaya lists on Catalist following successful RTO of CPH

CPH Ltd., a company listed on the Singapore Exchange (SGX) Catalist board, has engaged in significant corporate restructuring through reverse takeovers (RTOs) to revitalize its business operations. The acquisition was completed, and on 26 October 2020, Shanaya Limited made its debut on the SGX Catalist board following the reverse takeover of CPH Ltd. The listing provided Shanaya with a market capitalization of approximately SGD 24.8 million. Shanaya Ltd is a Singapore-based company specializing in waste management and disposal services for industrial and commercial clients, particularly in the shipping and cruise industries. Their services encompass the collection, transfer, treatment, and disposal of waste.

PPCF served as the financial adviser and full sponsor for the RTO.