No Signboard prices IPO at S$0.28 a share, valuing company at S$129.5m

Singapore

THE COMPANY behind the No Signboard Seafood chain of restaurants will raise about S$35 million from an initial public offering (IPO) and cornerstone placement of shares at S$0.28 apiece.

In an offer document released on Thursday, No Signboard said it will offer 65.7 million shares in its bid to list on the Singapore Exchange's Catalist board. The offering comprises 15.7 million new shares and 50 million vendor shares sold by an investment vehicle controlled by chief executive Sam Lim and chief operating officer Lim Lay Hoon, both siblings.