KNM has received its board approval to list an indirect wholly-owned subsidiary, Borsig GmbH on main the board of the Singapore Stock Exchange Securities Trading Limited by way of an initial public offering.
The exercise is part of the PN17 company’s regularisation plan, KNM aims to achieve a market capitalisation of up to USD300 million or its Singapore Dollar equivalent and placement of 49% of the enlarged capital comprising vendor and/or new shares.
The Board of Directors of the Company has appointed PrimePartners Corporate Finance Pte Ltd to act as the Issue Manager, Underwriter, and Placement Agent for the Proposed Flotation. PPCF is a boutique corporate finance firm headquartered in Singapore. It is licensed by the Monetary Authority of Singapore to provide financial advisory and capital-raising services.
In addition, the Board has also appointed Manifold Partner to act as the Arranger for the Proposed Flotation. MP is a Systematic Asset Manager and Quant Research Advisory firm.
Details of the Proposed Flotation, financial effects to the Company, and any other development will be announced in due course after the prospectus of the Proposed Flotation has been finalised.
