NoonTalk Media’s IPO Draws Strong Support from Investors

SINGAPORE, November 21, 2022 – NoonTalk Media Limited announced that its initial public offering (“IPO” or “Offering”) of 22.0 million new shares in the Company’s capital (“Offering Shares”) at S$0.22 per share (“Offering Price”), has attracted strong interest from investors.


The IPO comprises a placement of 17.5 million Offering Shares to investors, including institutional and other investors in Singapore (“Placement”), and an offering of 4.5 million Shares in Singapore by way of a public offer in Singapore (“Public Offering”).


At the close of the Placement at 12.00 noon on 17 November 2022, all 4.5 million Shares available under the Public Offering were validly subscribed for, with indications of interest received for approximately 5.3 million Public Offer Shares, with a total value of approximately S$1.2 million, which translates to the Public Offering being approximately 1.2 times subscribed.


All 17.5 million Placement Shares available under the Placement were validly subscribed for, with application monies received for these Placement Shares amounting to S$3.85 million.  Amongst the anchor investors, LNG market leader Union Energy Corporation invested as part of its strategic partnership to tap into digital media growth opportunities to reach out to a younger generation of customers. Anchor investors also include Mr Lim Hock Leng, Managing Director of Sheng Siong Group, and Qilin Wealth Fund Pte. Ltd., a Singapore-based SingleFamily Office which oversees a global portfolio of equities, debt, funds, derivatives and foreign currencies. Its principal strategies and divisions include value-driven allocations, quantitative trading as well as long-short strategies.


Dr Chong Weng Chiew, the Executive Director of CITIC Envirotech Pte. Ltd., also took part in the investment. Dr Chong was previously a Member of the Parliament of the Tanjong Pagar GRC, and CEO of Ang Mo Kio-Thye Hua Kwan Hospital.


The strong anchor commitments from various investors further affirm NoonTalk Media’s growth potential within the media landscape and its vision of becoming the leading media and entertainment platform in Singapore.


Mr Dasmond Koh, Executive Director and CEO of NoonTalk Media said, “We are incredibly grateful to see the overwhelming support for our Public Offering, which was oversubscribed in less than 72 hours. We are very encouraged by the positive response to our IPO launch from the investors, and we believe their warm reception underscores the strength of our business fundamentals and the belief in our big dream in this industry. Listing on SGX serves as a platform to enhance our exposure and allows us to gain access to the capital markets to extend our regional footprint.”


Evolve Capital Advisory Private Limited is the Sponsor, Issue Manager and Co-Placement Agent for the IPO, while CGS-CIMB Securities (Singapore) Pte. Ltd. is the Underwriter and Co-Placement Agent.  Commenting on NoonTalk Media's IPO, Mr Jerry Chua, Managing Partner and CEO of Evolve Capital Advisory, said “We are pleased to act as Sponsor, Issue Manager and CoPlacement Agent for NoonTalk Media, a truly leading Singapore home-grown media company with strong multimedia and production capabilities, offering a one-stop media solution, from origination to implementation to their clients. This IPO further reinforces our philosophy of bringing growth-oriented enterprises focused on the new economy verticals to the SGX Catalist platform.”


The shares of NoonTalk Media are expected to commence trading on a “ready” basis on Catalist at 9.00 am on 22 November 2022.


The IPO will raise total gross proceeds of approximately S$4.8 million. Based on the Offering Price, NoonTalk Media’s post-Offering market capitalisation is expected to be approximately S$43.6 million.

  • Press Release - NoonTalk Media Limited's IPO draws strong support from investors

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