Neo group goes for catalist listing in its IPO bid

Neo group goes for catalist listing in its IPO bid

Food caterer Neo Group hopes investors will be tempted to take a bite of its initial public offering (IPO) despite the weak appetite for new listings this year.

The company, which also runs a business selling Japanese convenience foods islandwide, aims to raise net proceeds of $5 million in an IPO ahead of a Catalist listing.

Neo Group wants to sell one million new shares to the public at 30 cents each. Another 21 million new shares will be placed out to institutional investors. This means that 15.3 per cent of the company will be in retail or institutional hands after the offer.

The IPO starts on Tuesday and runs to 12pm next Monday. Trading of the shares is expected to start next Wednesday.


In light of an estimated yield of 6.2 %, it is an attractive investment and the number of shares on issue is limited with the majority of it tightly controlled. Thus I would expect this to be a stable long term investment favoured by investors and should do well on its debut.

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