Starburst launches IPO at 31¢ a share

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 earnings per share of 3.49 cents for the financial year ended Dec 31, 2013, and on the enlarged share capital of 250 million shares.