HRnetGroup plans S$175m IPO
Offering by homegrown recruitment firm will make it the first new mainboard listing for the year
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HRNETGROUP, a Singapore recruitment firm, could raise about S$175 million in an initial public offering with a target trade date of June 16, which would make it the first new mainboard listing for the year.
The Republic's largest professional recruitment and flexible staffing services outfit by number of consultants and revenue, HRnetGroup is planning to offer up to about 194 million new shares between 80 and 90 Singapore cents apiece. At the mid-point of pricing, about 84 million shares in the offering would be offered in a placement tranche, and about six million shares for the public tranche. Joint global coordinators Credit Suisse and Deutsche Bank, and joint underwriters DBS and Nomura, have an over-allotment option to sell an extra 11 million shares if demand is strong.
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