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Eindec launches its IPO

CLEANROOM manufacturing business Eindec Corporation launched its initial public offering (IPO) on Wednesday. 

The Catalist listing will be done entirely through placement. Some 35.8 million new Eindec shares will be placed at S$0.21 apiece.

The size of the placement is estimated to be about S$7.5 million, and the market capitalisation about S$22.6 million.

Chinese property developer Weiye Holdings will retain a stake of 66.8 per cent in Eindec after the placement.

The subscription application period for the placement shares will close on Jan 13, and trading will start on Jan 15. UOB Kay Hian is the issue manager, sponsor and placement agent.