Starburst launches IPO at 31¢ a share

Proceeds of $13.5m for working capital, expansion of fabrication facility

STARBURST Holdings, a Singapore-based engineering group specialising in the design and engineering of firearms-training facilities, has launched its initial public offering (IPO) for a Catalist listing.

The group, with its eyes trained on its next phase of growth in the South-east Asia and Middle East markets, is offering 50 million shares - two million by public offer and 48 million by placement - at 31 cents each.

It represents a historical price earnings ratio of around 8.88 times, based on net...

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