$HRnetGroup(CHZ)

#ipo

Trading Price of HRnetGroup’s shares on the Mainboard is currently at 0.935.

'HRnetGroup says the public offering of 193.4 million new shares at 90 cents each was 68.3 times subscribed by retail investors.

As at the close of the offering at 12 noon on Wednesday, excluding applications for reserved shares and by connected persons, 6,037 valid applications representing 229.6 million shares were received for the 3.4 million shares available under the public offer.

This resulted in the public offer being 68.3 times subscribed with a total value of $206.6 million. The valid acceptances for the reserved shares resulted in all 440,800 reserved shares being allocated.

The recruitment agency had offered a total of 89.5 million shares for sale at its IPO. This consisted of an international placement of 85.7 million shares to global investors and a public offer of 3.8 million shares in Singapore, including 0.4 million shares which were reserved for the directors and employees of HRnetGroup.

The placement and public tranche together, excluding reserved shares, was 15.3 times subscribed.

About 103.9 million new shares were also set aside for cornerstone investors including Aberdeen Asset Management Asia, Affin Hwang Asset Management Berhad, Credit Suisse AG, Singapore Branch, Credit Suisse AG, Hong Kong Branch and Meiji Yasuda Asset Management Company.

HRnetGroup has granted to the joint bookrunners and underwriters an over-allotment option to subscribe for up to an aggregate of 11.1 million additional shares, otherwise known as the over-allotment option.

Pre-IPO investor, Vanda 1 Investments, which is managed and controlled by Heliconia Capital Management, a wholly-owned subsidiary of Temasek Holdings, will hold 1.95% of the post-offering capital of the company.'

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newkidintown

much hype but subscribers only want a quick profits and have no intention to hold after it opens.

newkidintown

Reply to @philiphong : asset-less... It's the network and HR consultants that are valuable

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#market-outlook

'Here are some stocks that could move the market this Friday morning:

Far East Hospitality REIT is proposing the acquisition of Oasia Hotel Downtown from its sponsor for $210 million. The proposed acquisition will be funded by debt facilities and proceeds from Far East H-REIT's distribution reinvestment plan. The acquisition would be accretive to the distribution per stapled security (DPS) of Far East H-Trust for the nine-month period ended Sept 2017. Units in Far East H-REIT closed at 72 cents on Thursday. $Far East HTrust(Q5T.SI)

SingHaiyi Group’s joint-venture firm, SingHaiyi Gold, is acquiring Park West condominium along Jalan Lempeng in Clementi in an en bloc purchase for $840.9 million. The 36-year-old property sits on a land area of 58,867 sqm with a plot ratio of 2.1. SingHaiyi Gold intends to apply for a new 99-year lease for the property and to lift the title restrictions in the state lease, which is estimated to incur a premium of $146.0 million. In addition, an estimated differential premium of $144.6 million is payable to redevelop the site to a maximum permissible gross floor area of 135,982.8 sqm. Shares of SingHaiyi closed 0.1 cent lower at 11.5 cents on Thursday. $SingHaiyi(5H0.SI)

shopper360, the provider of shopper marketing services in the retail and consumer goods industries, reported a 31% rise in 1H18 earnings ended Nov to RM 4.6 million ($1.53 million) from RM 4.5 million a year ago. This came on the back of the disposal of Paragon Premium Sdn. Bhd. which had reported a loss, net of tax, of RM 1.4 million in 1H17. For continuing operations, revenue in 1H18 from rose 6% to RM 68.8 million. Shares in shopper360 closed at 25 cents. $Shopper360(1F0.SI)

Yinda Infocomm, formerly known as CMC Infocomm, saw its losses widen to $1.4 million for the half year ended Nov 2017, from losses of $0.4 million a year ago. Revenue fell 17.9% to $6.4 million in 1H18, from $7.7 million in 1H17. This was mainly due to lower revenue contribution from In-Building Construction (IBC) projects in Singapore and the Philippines. Shares of Yinda Infocomm last closed at 9.5 cents on Aug 23, 2017. $CMC Infocomm(42F.SI)

Miyoshi, the provider of integrated engineering services, says earnings in 1Q18 more than doubled to $0.75 million from $0.33 million in 1Q17. This came on the back of higher sales as well as lower costs and expenses. Revenue for 1Q18 ended Nov 2017 rose 4.4% to $13.8 million from $13.2 million in the previous year, mainly due to higher order volume from automotive customers. Shares in Miyoshi closed flat at 7.6 cents on Thursday. $Miyoshi(M03.SI)

Singapore Exchange is seeking public feedback on whether to retain quarterly reporting (QR) for its listing members. This is due to concerns about compliance costs, which has constantly been raised among market professionals and listed companies. Investors have also said that they prefer adjustments to QR to be tempered. Shares in SGX closed at $7.56 on Thursday. $SGX(S68.SI)

HRnetGroup is expanding its core business of recruitment services into China. The group has entered into a binding term sheet to acquire 51% of the shares in REForce (Shanghai) Human Resources Management Consulting Co. Shares in HRnetGroup closed 2 cents lower at 83 cents on Thursday. $HRnetGroup(CHZ.SI)

Markets
Wall Street stocks finished at fresh records on Thursday behind gains in industrial and petroleum-linked equities, resuming their upward climb after a one-day pullback. At the closing bell, the Dow Jones Industrial Average stood at 25,574.73, up 0.8%. The broad-based S&P 500 gained 0.7% to 2,767.56, while the tech-rich Nasdaq Composite Index advanced 0.8% to 7,211.78.

The Straits Times Index extended its losses for the second straight day, ending 7.8 points or 0.2% lower at 3,512.68 on Thursday. The broader market saw ome 3.3 billion shares worth $1.1 billion traded. Losers outnumbered gainers 248 to 185.'

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$HRnetGroup(CHZ.SI)

'HRnetGroup is expanding its core business of recruitment services into China.

The group has entered into a binding term sheet to acquire 51% of the shares in REForce (Shanghai) Human Resources Management Consulting Co.'

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$HRnetGroup(CHZ.SI)

'Recruitment business HRnetGroup saw its earnings jump 20.2% to $10.7 million for the 3Q ended September, from $8.9 million a year ago.

In a filing to SGX on Monday, HRnetGroup attributes the increase to the group’s acquisition of non-controlling interests and increasing of its stake in certain operating subsidiaries under the 88GLOW scheme.'

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$HRnetGroup(CHZ.SI)

'HRnetGroup announced earnings of $7.3 million for the 2Q ended June, down 10.3% from the $8.2 million reported a year ago.

This comes even as the recruitment firm achieved a record quarter of revenue, which grew 6.4% to $97.4 million in 2Q from $91.6 million a year ago on the increase in flexible staffing in Singapore, which substantially offset a reduction in revenue from professional recruitment.

As such, there was a shift towards higher gross profit contribution from flexible staffing which has a recurring nature, says the group in its regulatory filing on Monday.'

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#market-outlook

'Here are some stocks to watch this Friday morning:

HRnetGroup says the public offering of 193.4 million new shares at 90 cents each was 68.3 times subscribed by retail investors. The placement and public tranche together, excluding reserved shares, was 15.3 times subscribed. Trading of HRnetGroup’s shares starts today.
$HRnetGroup(CHZ)

The Ascott, CapitaLand’s serviced residence business unit, has won contracts to manage its first three properties under its lyf brand in China and Singapore. Shares of CapitaLand closed 5 cents lower at $3.55.
$CapitaLand(C31)

Mermaid Maritime announced Thursday that its business units in Southeast Asia have recently won two subsea contracts from oil majors with a combined estimated potential value of US$4.3 million ($5.9 million). Shares of Mermaid Maritime closed 0.3 cent lower at 16.1 cents on Thursday.
$Mermaid Maritime(DU4)

Yongnam Holdings, the structural steel specialist and civil engineer, has won four contracts worth $36.2 million for projects in Singapore. Shares of Yongnam closed at 20 cents.
$Yongnam(AXB)

Oceanus Group, the abalone and seafood supply chain manager, has entered into an agreement with WSRC Holding to expand the group’s abalone and seafood business in China, particularly, the distribution of Oceanus’ seafood products. Shares in Oceanus closed 0.1 cent higher at 0.9 cents.
$Oceanus^(579)

Markets

A recent slump in technology stocks worsened on Thursday, dragging on major US indexes, while investors fretted about the economy's health after the Federal Reserve lifted interest rates. The Dow Jones Industrial Average closed 14.66 points, or 0.07%, lower at 21,359.9, the S&P 500 lost 5.46 points, or 0.22%, to 2,432.46 and the Nasdaq Composite dropped 29.39 points, or 0.47%, to 6,165.50.

The Straits Times Index closed 21.34 points or 0.7% lower at 3,232.09, a fall that occurred with trading volume of 2.2 billion units worth $1.1 billion -- the highest so far this week.'

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Market Indices

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