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From The Edge, the IPO will be priced at P/E~19.5 or earning yield of 5%. So the cost of capital (at 5%) isn't too far away from the typical pawnbroker having to borrow 4-6% to fund their loans.
ValueMax associates launch Well Chip IPO
Well Chip was set up April 2023 as an investment holding company to own shares in ValueMax Group : T6I 0%’s Malaysian associated companies.
It is principally involved in providing pawnbroking services, and in the business of retail and trading of jewellery and gold.
About 72 per cent of the IPO proceeds or RM124.3 million have been allocated for use as cash capital for the group’s 23 existing pawnshops. Some 23.2 per cent, or RM40 million, will be used for expansion.
The remaining 4.8 per cent of gross proceeds amounting to RM8.2 million will be used for estimated listing expenses.
https://www.businesstimes.com.sg/compani...l-chip-ipo
ValueMax associates launch Well Chip IPO
Well Chip was set up April 2023 as an investment holding company to own shares in ValueMax Group : T6I 0%’s Malaysian associated companies.
It is principally involved in providing pawnbroking services, and in the business of retail and trading of jewellery and gold.
About 72 per cent of the IPO proceeds or RM124.3 million have been allocated for use as cash capital for the group’s 23 existing pawnshops. Some 23.2 per cent, or RM40 million, will be used for expansion.
The remaining 4.8 per cent of gross proceeds amounting to RM8.2 million will be used for estimated listing expenses.
https://www.businesstimes.com.sg/compani...l-chip-ipo