Latest news with #Skylink
The Star
10-06-2025
- Business
- The Star
Firms keen to list on SGX
SINGAPORE: Interest from Singapore firms to list on the local bourse via initial public offerings (IPOs) and reverse takeovers (RTOs) has been returning ahead of a US$5bil capital injection that is expected to help revive the local stock market. 'We are currently working on several listings, including the Yangzijiang Maritime spin-off and the proposed RTO involving Sincap and Skylink Apac, both expected to list on the Singapore Exchange (SGX) within the year,' Ong Hwee Li, chief executive of corporate finance firm SAC Capital, told The Straits Times. This follows April announcements by SGX-listed Yangzijiang Financial to spin off its maritime investments into a separately listed company, and by Sincap Group to acquire vehicle leasing firm Skylink for S$42.3mil via an RTO, paving the way for Skylink to become publicly listed. SAC Capital is also advising 'two to three' local IPO aspirants in sectors including events management, real estate management and natural resources. These firms expect to list on SGX in 2026. 'We are receiving more listing inquiries, about one to two per month, from companies in other industries like construction, food and beverage, technology, and financing sectors, highlighting renewed interest in IPOs,' Ong said. He added that SAC Capital's IPO pipeline is now full, with much stronger investor interest in book building compared with 2024. Book building is a stage in the IPO process where investors bid for the number of shares they want at certain price points, which helps corporate advisers gauge demand for a company's shares and how to price them before they are listed on the stock exchange. These developments are being fuelled by a central bank-led programme to allocate US$5bil in seed capital to Singapore-based funds for investing in local stocks which are not on the benchmark Straits Times Index (STI). The STI tracks the performance of the top 30 largest and most liquid companies listed on SGX. Announced in February as part of a string of measures to revive the Singapore stock market, the programme has received positive interest from global fund managers. Suitable investment strategies will be shortlisted by end-September, the Monetary Authority of Singapore has said. Analysts reckon the funds will likely be deployed before the end of 2025. Listing interest has gained momentum as a result. On June 6, Bloomberg reported that Hong Kong-based Link-REIT is considering listing a real estate investment trust (REIT) in Singapore that would include some of its properties outside of China and Hong Kong, while Japan's Nippon Telegraph and Telephone in its earnings release in May said it plans to list its data centre REIT on the SGX. In May, Reuters reported that at least five companies from mainland China or Hong Kong are planning IPOs, dual listings, or share placements in Singapore in the next 12 to 18 months. The companies include a Chinese energy company, a Chinese healthcare group, and a Shanghai-based biotech group. In April, LHN Group announced plans to take its co-living business Coliwoo Group public on the SGX. The real estate management services group, dual-listed in Singapore and Hong Kong, said it has submitted applications in both places for the proposed spin-off and separate listing of the shares of Coliwoo on the mainboard of SGX. In January, Centurion Corp said in a bourse filing that it is exploring the establishment of a REIT involving some of its worker and student accommodation assets that it plans to list on the SGX main board. US data security firm AvePoint, which trades on Nasdaq, in January also filed for a secondary listing in Singapore. If they take place, these listings will give the SGX a much-needed boost after the bourse saw just four IPOs in 2024, a record low. The bourse has hosted just one notable IPO in 2025, that of automotive group Vin's Holdings, which is now trading at 29 US cents, close to its IPO price of 30 US cents. Key to their success is how the shares are traded post-listing, Ong said, noting that many IPOs, particularly on Catalist, are too small and have controlled floats, where a company limits the number of shares available for public trading. While a limited float may initially create strong demand and price momentum, it also means there is little market depth to absorb selling pressure once investor sentiment shifts. Ong noted that SAC Capital encourages retail participation in the IPOs it manages by offering automated teller machine (ATM) tranches, which allows retail investors to apply for shares directly through their bank ATMs. He added that retail investors who receive shares through the ATM tranche tend to trade more actively, contributing to a more diversified and engaged shareholder base post-listing. — The Straits Times/ANN
Straits Times
09-06-2025
- Business
- Straits Times
Corporate financier expects to help list at least four Singapore firms on SGX in next 18 months
The developments are being fuelled by a programme to allocate $5 billion in seed capital to Singapore-based funds for investing in local stocks which are not on the benchmark STI. ST PHOTO: BRIAN TEO Corporate financier expects to help list at least four Singapore firms on SGX in next 18 months SINGAPORE - Interest from Singapore firms to list on the local bourse via initial public offerings and reverse takeovers (RTO) has been returning ahead of a $5 billion capital injection that is expected to help revive the local stock market. 'We are currently working on several listings, including the Yangzijiang Maritime spin-off and the proposed reverse takeover involving Sincap and Skylink Apac, both expected to list on the Singapore Exchange (SGX) within the year,' Mr Ong Hwee Li, chief executive of corporate finance firm SAC Capital, told The Straits Times. This follows April announcements by SGX-listed Yangzijiang Financial to spin off its maritime investments into a separately listed company, and by Sincap Group to acquire vehicle leasing firm Skylink for $42.3 million via an RTO, paving the way for Skylink to become publicly listed. SAC Capital is also advising 'two to three' local IPO aspirants in sectors including events management, co-living and natural resources. These firms expect to list on SGX in 2026. 'We are receiving more listing inquiries, about one to two per month, from companies in other industries like construction, food and beverage, technology, and financing sectors, highlighting renewed interest in IPOs,' Mr Ong said. He added that SAC Capital's IPO pipeline is now full, with much stronger investor interest in book-building compared to 2024. Book building is a stage in the IPO process where investors bid for the number of shares they want at certain price points, which helps corporate advisers gauge demand for a company's shares and how to price them before they are listed on the stock exchange. These developments are being fuelled by a central bank-led programme to allocate $5 billion in seed capital to Singapore-based funds for investing in local stocks which are not on the benchmark Straits Times Index (STI). The STI tracks the performance of the top 30 largest and most liquid companies listed on SGX. Announced in February as part of a string of measures to revive the Singapore stock market, the programme has received positive interest from global fund managers. Suitable investment strategies will be shortlisted by end-September, the Monetary Authority of Singapore has said. Analysts reckon the funds will likely be deployed before the end of 2025. Listing interest has gained momentum as a result. On June 6, Bloomberg reported that Hong Kong-based Link Reit is considering listing a Reit in Singapore that would include some of its properties outside of China and Hong Kong, while Japan's Nippon Telegraph and Telephone in its earnings release in May said it plans to list its data centre real estate investment trust (Reit) on the SGX in the future. In May, Reuters reported that at least five companies from mainland China or Hong Kong are planning IPOs, dual listings, or share placements in Singapore in the next 12 to 18 months. The companies include a Chinese energy company, a Chinese healthcare group, and a Shanghai-based biotech group. In April, LHN Group announced plans to take its co-living business Coliwoo Group public on the SGX. The real estate management services group, dual-listed in Singapore and Hong Kong, said it has submitted applications in both places for the proposed spin-off and separate listing of the shares of Coliwoo on the mainboard of SGX. In January, Centurion Corp said in a bourse filing that it is exploring the establishment of a Reit involving some of its worker and student accommodation assets that it plans to list on the SGX mainboard. US data security firm AvePoint, which trades on Nasdaq, in January also filed for a secondary listing in Singapore. If they take place, these listings will give the SGX a much-needed boost after the bourse saw just four IPOs in 2024, a record low. The bourse hosted just one notable IPO in 2025, that of automotive group Vin's Holdings, which is now trading at 29 cents, close to its IPO price of 30 cents. Key to their success is how the shares are traded post-listing, Mr Ong said, noting that many IPOs, particularly on Catalist, are too small and have controlled floats, where a company limits the number of shares available for public trading. While a limited float may initially create strong demand and price momentum, it also means there is little market depth to absorb selling pressure once investor sentiment shifts. Mr Ong noted that SAC Capital encourages retail participation in the IPOs it manages by offering ATM tranches, which allows retail investors to apply for shares directly through their bank ATMs. He added that retail investors who receive shares through the ATM tranche tend to trade more actively, contributing to a more diversified and engaged shareholder base post-listing. Join ST's Telegram channel and get the latest breaking news delivered to you.
Axios
01-05-2025
- Business
- Axios
American Airlines, DFW Airport plan $4B terminal
DFW Airport's sixth terminal will be almost double its originally planned size and will have only American Airlines flights, the airport announced Thursday. Why it matters: The airport, almost midway between Dallas and Fort Worth, has been critical to the population and business growth of the region. "We as an airport have to stay ahead of that growth. We can never be a constraint," DFW Airport CEO Sean Donohue said at a news conference Thursday. The big picture: DFW Airport was the world's third-busiest airport last year, following Atlanta and Dubai. Terminal F will give American Airlines and DFW Airport a "clear path to building the largest single airline hub in the world," American Airlines CEO Robert Isom says. The latest: The Fort Worth-based airline plans to spend $4 billion on the terminal, which will have 31 gates and its own parking, baggage claims and security area. The initial design had 15 gates and would have required travelers to check in at Terminal E, then take the Skylink to Terminal F. State of planes: American will operate exclusively in the terminal, freeing up gates at Terminal E for other domestic airlines. Renovations in Terminals A and C should be completed before the FIFA Men's World Cup next year, Donohue said. Terminal C already has a few upgraded gates with digital signs, a robotic barista and a restaurant that serves Dirk Nowitzki's favorite meals. What they're saying:"I've always called Terminal D the crown jewel of DFW Airport. When Terminal F opens, it's going to take that forward," Donohue said.
Indian Express
22-04-2025
- Indian Express
Pahalgam terror attack: Calls for cancellation of hotel & flight bookings flood tour-travel operators
As the news of the Pahalgam terror attack spread, people who had planned trips to Jammu and Kashmir in the near future called their travel agents to cancel hotel and flight bookings. Ashish Sharma, who operates Skylink Private Limited out of Connaught Place, says that all tours scheduled for the next 10 days have been cancelled. 'At this time of the year, most bookings are from northern states, Gujarat and West Bengal. With such an attack happening, panic spreads among people. All of them have called and cancelled their hotel and other bookings,' the 50-year old operator of Skylink said. 'All the people who were planning to travel by road have cancelled their trips. Some people who were going by air called to cancel tickets, others must be trying to cancel online,' Sharma added. He arranged close to 20 tours this past week. Next week was supposed to be better with around 30 tours arranged, all of which stand cancelled now. 'Out of the 10 tours which were scheduled for tomorrow, seven have already been cancelled,' says Furqan Bashir, 36, who operates Hangout Holidays Kashmir. 'Almost all tours scheduled in April have been cancelled. Sabke phone aa rahe hai ki cancel kar do (Everyone is calling to cancel their bookings),' Bashir, whose agency gets bookings from across the country, said. 'We had a tour of nine people departing for Srinagar, Gulmarg, Sonmarg and Pahalgam tomorrow morning. They called as soon as news of the attack came and cancelled their trip. We are getting calls from people who had booked with us till June,' said the owner of a Kashmir-specific travel agency based in Malviya Nagar. He did not want to be named. 'For us, May and the first week of June is the busiest time. Over the past four years, the number of tourists going to Kashmir increased and we have been handling up to 40 tourists per day in mid-May. There is a lot of panic now. I don't think we will have more than a handful of tourists this year,' he added. Special flights from Srinagar Air India issued a travel advisory announcing that the airline will be operating two additional flights from Srinagar to Delhi and Mumbai on Wednesday, on social media platform X. The flight from Srinagar to Delhi is scheduled at 11.30 am and from Srinagar to Mumbai is at noon. Bookings for the flights are now open, according to the post. 'All our other flights to and from Srinagar will continue to operate as per schedule. Air India is also offering complimentary rescheduling and full refunds on cancellations to passengers with confirmed bookings till 30th April 2025 on these sectors,' the post said.
