Southern Alliance Mining to debut on Catalist board

MALAYSIA-BASED iron ore producer Southern Alliance Mining (SAM) is set to debut as a Catalist-listed counter on the Singapore bourse at 9am on Friday. 

Based on the placement of 76 million shares at S$0.25 each in its initial public offering (IPO), and the total valid applications received, the placement was fully subscribed, said SAM after the close of trading on Thursday. 

Application monies received for these placement shares amounted to S$19 million. 

The IPO comprised 56 million new shares and 20 million vendor shares, representing approximately 15.5 per cent of SAM's enlarged post-IPO share capital of 489 million shares.

According to its regulatory filing, the following persons have been allotted and/or allocated 5 per cent or more of the placement shares: Ann Joo Corporation Sdn Bhd, Jimmy Chin, Antelle Holding Limited, Prudential Resources Recycle Sdn Bhd, LB Venture Capital Pte Ltd  and Pheim Asset Management.