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5 Things to Know About RE&S Holdings Ltd and Its Initial Public Offering

RE&S Holdings Ltd (SGX: 1G1) debuted on our local stock exchange yesterday. In this article, let us look at five things about the firm in general.

1. The company is a concept owner and operator of food and beverage (F&B) outlets in Singapore and Malaysia with an aim to provide customers with authentic Japanese cuisine and dining experiences. RE&S Holdings, which was started in 1988, has a portfolio of 20 brands and more than 70 outlets, including full-service restaurants, quick-service restaurants and food kiosks. Some of its well-known brands include Kuriya Dining, Ichiban Boshi and Ichiban Sushi.

2. The initial public offering (IPO) price was S$0.22, and a total of 38 million shares were in offer. The offer period ran from 15 November to 20 November 2017.

3. At the close of offer, the public shares and placement shares (excluding six million reserved shares) were 37.8 times subscribed.

4. RE&S Holdings raised net proceeds of around S$10.4 million from the IPO. The money will be used for a) business expansion through opening of new F&B outlets and/or suitable acquisitions, joint ventures or strategic alliances; b) refurbishment and improvement of its existing F&B outlets; and c) for general working capital purposes.

5. The F&B firm debuted for trading at S$0.355 yesterday, 61% above its IPO price, before closing at S$0.31 for the day.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.