Corporate digest

ST Group Food Industries

ST GROUP Food Industries has priced its initial public offering (IPO) at S$0.26 per share ahead of a listing on the Catalist board of the Singapore Exchange.

The IPO is expected to raise net proceeds of about S$6.2 million through the placement of 30.1 million placement shares and the issuance of 6.9 million new shares to cornerstone investors Chikaranomoto Global Holdings Pte Ltd and Hyein Foods Co Ltd. There is no public offer. The indicative date for the close of the application list is July 1 at 12pm. Shares will tentatively commence trading on a "ready" basis at 9am on July 3.