Aztech Global

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Name: Aztech Global
IPO Share Price: S$1.28

Public Offering: 3,500,000
Placement Offering: 64,620,000
Total Offering: 68,120,000

Gross Proceeds Raised: $283.7 million
Share capital: 773,72 million
Market Capitalisation: $990.4 million

Closing Date: 10 Mar 12pm
Trading on 'ready basis': 12 Mar 9am

Prospectus and Product Highlight Sheet: HERE

Just looked at the movement of the money before/during IPO:

- New money raised with new shares ~190mil
- Proceeds to controlling shareholder by selling existing shares ~ 95mil

- Capital reduction before IPO ~ 53mil
- Dividends declared before IPO ~ 67mil
- Total money emptied from company before IPO = 53mil + 67mil ~ 120mil (or 60% of IPO proceeds)
- Total proceeds received by controlling shareholder = selling existing shares + money emptied from company before IPO = 95 + 120 = 210mil, which is an amount that exceed the 190mil new money raised from institutions by selling new shares.

I reckon the investment bankers paid by the Mun family had been really valued for money.