A long, dry wait for DeClout's third act
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TWO years ago, DeClout, a holding company for next-generation technology firms, looked like it was blazing a trail with two big exits on its investments. Brokerages churned out various non-rated reports on the company while punters eagerly awaited its next "harvest" - DeClout's term for its exits.
Today however, the company's most outstanding feature is that its shares trade at a measly S$0.07, 72 per cent lower than its initial public offering (IPO) price of S$0.25 in 2012. That is a lot of shareholder value wiped out.
In July 2016, DeClout made history when it became the first Catalist-listed company to spin off a subsidiary on the Singapore Exchange main board, raising S$34.6 million in net proceeds from the Procurri IPO.
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