Featured Deals

Food Innovators Holdings debuts on Catalist

Food & Beverage

October 2024

Food Innovators Holdings Limited (“FIH”) made a successful debut on the Catalist board of the Singapore Exchange (SGX), marking a new era for the company and its commitment to delivering exceptional Japanese and Japanese-inspired European cuisines across Asia. FIH issued 14 million shares at a price of S$0.22 with strong enthusiasm from investors. The Public Offer Shares were oversubscribed by approximately 6.3 times, while all Placement Shares were subscribed up by both individual and corporate investors.

Singapore Institute of Advanced Medical Holdings successfully listed on Catalist

Healthcare

February 2024

Singapore Institute of Advanced Medicine Holdings Ltd. (“SIAMH”), a healthcare service provider specializing in advanced diagnostic and treatment technologies, successfully listed on the Catalist board of the Singapore Exchange (SGX) in February 2024. PPCF served as the Sponsor, Issue Manager, Underwriter, and Placement Agent for the Initial Public Offering (IPO).

The IPO raised gross proceeds of S$26.2 million through the issuance of 114 million new shares at S$0.23 each, comprising Public Offer Shares and Placement Shares. The public offer segment received strong support which was fully subscribed, reflecting investor confidence in SIAMH's mission to establish a comprehensive one-stop ambulatory cancer center. The capital raise allows SIAMH to utilize for acquiring new equipment, upgrading facilities, working capital, and repaying bank borrowings.

ProsperCap lists on Catalist following successful RTO of 3Cenergy

Hospitality

January 2024

3Cnergy Limited completed the reverse takeover (RTO) by DTP Inter Holdings Corporation Pte. Ltd., a subsidiary of Thailand-based conglomerate DTGO Corporation in January 2024. 3Cnergy was renamed to Prosper Cap Corporation Limited ("ProsperCap"), focusing on investments in the global hospitality and lodging-related market.

ProsperCap owns 17 predominantly upscale hotels, totalling 3,383 rooms, located in key regional cities across the United Kingdom. These properties operate under franchise agreements with renowned international hotel brands, including Hilton, IHG, and Marriott.

In conjunction with the RTO, Prosper Cap completed a compliance placement to raise gross proceeds of S$69.3 million at S$0.33 per share. PPCF was the Sponsor and Financial Adviser, and sole Placement Agent for the compliance placement.

Winking Studios Pasture Holdings marks its debut on Catalist and completed Placement Exercise

Gaming

November 2024 and July 2024

Winking Studios Limited, a prominent game art outsourcing and development company, has completed various strategic capital-raising exercises to fuel its growth and expansion plans.

Pasture Holdings marks its debut on Catalist

Pharmaceutical

June 2023

Pasture Holdings Ltd., a Singapore-based pharmaceutical products and medical supplies company, successfully listed on the Catalist board of the Singapore Exchange (SGX) on 9 June 2023. The Company successfully raise gross proceeds of S$5 million at S$0.25 per share. The funds raised are intended to strengthen existing business segments, expand the company's global footprint, and explore new business collaboration opportunities.

As Full Sponsor, Issue Manager, Underwriter, and Placement Agent, PPCF guided Pasture Holdings through the listing and fund raising process.

TSH Resources successfully secondary listing on Mainboard of the SGX

Agriculture

September 2023

TSH Resources Berhad, a Malaysian-based oil palm plantation company, successfully completed a secondary listing on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) by way of introduction on 26 September 2023. The company is principally engaged in oil palm cultivation and the processing of fresh fruit bunches into crude palm oil and palm kernel. This strategic move aimed to expand and diversify the company's shareholder base, improve trading liquidity, and provide additional avenues for fundraising.

PPCF acted as Financial Adviser to TSH and was instrumental in facilitating TSH Resources' successful entry into the Singapore capital market, enhancing the company's visibility and accessibility to a broader spectrum of investors.

NIO successfully dual-lists on Mainboard of the SGX, HKEX and NYSE

Automotive

May 2022

NIO Inc., a leading premium smart electric vehicle manufacturer headquartered in China, completed its secondary listing by way of introduction on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) in May 2022. With primary listing on the New York Stock Exchange (NYSE) and a secondary listing on the Hong Kong Stock Exchange (HKEX), the secondary listing on SGX marked another significant milestone in NIO's journey toward broadening its investor base and enhancing its global market presence.

NIO viewed Singapore as a strategic hub for its long-term growth, leveraging the city-state’s robust capital markets and strong investor interest in innovative industries. The secondary listing underscores NIO's commitment to fostering a global presence while offering diversified trading venues for its shareholders.

AMTD International successfully dual-lists on Mainboard of the SGX and NYSE

Digital Solutions

April 2020

AMTD International Inc. (now known as AMTD Idea Group), a subsidiary of AMTD Group, a one-stop business services and digital solutions platform, successfully completed a secondary listing by way of introduction on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST) on 8 April 2020. This listing marked AMTD International as the first company to be dual-listed on both the NYSE and SGX-ST, and the first with a dual-class share structure to list in Singapore. This strategic move aimed to enhance AMTD International's visibility and accessibility to investors in the Asia-Pacific region, leveraging Singapore's dynamic capital market to connect with global investors

PPCF was appointed as the Financial Adviser to oversee the secondary listing procedure and ensuring compliance with SGX regulations.

Medeze launched voluntary conditional cash partial offer for Cordlife Group Limited

Healthcare

May 2025

Digilife’s Disposal of the Entire Shareholding Interest in Modi Indonesia 2020 Pte. Ltd.

Telecommunications and Technology

February 2024

PPCF was the Financial Adviser to Digilife Technologies Limited ("Digilife") in its disposal of the entire shareholding interest in Modi Indonesia 2020 Pte. Ltd. ("Modi Indonesia") to NFT Digital Pte. Ltd. ("NFT Digital"). The transaction, valued at S$9.92 million, was structured in two tranches, with Tranche 1 (60% of shares) completed on 18 February 2025 and Tranche 2 (40% of shares) scheduled for completion within six months. This strategic divestment aligns with Digilife's focus on streamlining operations and enhancing shareholder value.

PeakBayou’s Acquisition of AMOS Group

Marine and Energy

December 2024

PeakBayou’s Acquisition of AMOS Group

PPCF was the Financial Adviser to PeakBayou Ltd. ("PeakBayou") who launched a voluntary unconditional general offer to acquire all issued ordinary shares of AMOS Group Limited ("AMOS"), a company listed on the Mainboard of the Singapore Exchange (SGX-ST) on 25 September 2024. The offer closed on 12 December 2024, with PeakBayou successfully acquiring a significant majority of AMOS's shares.

FA to Horowitz Capital Ltd. for Voluntary Unconditional Offer

Mining

September 2022

FA to SMI Vantage Limited’s Acquisition and Diversification

Information Technology

April 2022

IFA for Privatisation of Paragon REIT

Real Estate Investment Trust (REIT)

February 2025

PPCF was appointed as the Independent Financial Adviser (IFA) in connection with the trust scheme of arrangement in compliance with the Singapore Code on Take-overs and Mergers and the Paragon Trust Deed. The scheme consideration was S$0.98 per unit, representing a 10.1% premium over the last traded price and valuing the REIT at approximately S$2.78 billion.

The privatisation is expected to allow Cuscaden Peak to undertake long-term strategic enhancements to Paragon REIT’s flagship Orchard Road asset, including potential capital expenditure of up to S$600 million to maintain competitiveness and unlock value.

The Scheme was approved by unitholders at the scheme meeting and extraordinary general meeting in March 2025. Trading of Paragon REIT units was suspended on 15 May 2025.

IFA to Broadway Industrial Group for Mandatory Conditional Cash Offer

Manufacturing and Precision Engineering

October 2024

PPCF was appointed as the Independent Financial Adviser (IFA) to the independent directors of Broadway Industrial Group Limited (“BIGL”) in relation to the mandatory conditional cash offer made by Patec Pte. Ltd. (“Patec”).

Patec, a wholly-owned subsidiary of Taiwan-listed Patec Precision Industry Co., Ltd., launched a mandatory conditional cash offer to acquire all issued and paid-up ordinary shares of BIGL, a company listed on the Singapore Exchange (“SGX”), on 28 October 2024 at an offer price of S$0.197 per share.

The offer became unconditional on 14 November 2024, after Patec secured valid acceptances that, together with its existing shareholdings, exceeded 50% of BIGL's total issued shares. By 20 December 2024, Patec’s stake had increased to 91.9%, surpassing the 90% threshold required for compulsory acquisition under Singapore’s Companies Act.

Following this, dissenting shareholders were granted the right under Section 215(3) of the Companies Act to require Patec to acquire their shares at S$0.197 per share, with a deadline of 10 April 2025 to exercise this right.

Patec has announced its intention to delist BIGL from the SGX and integrate its operations with the Patec Group, aiming to enhance efficiency and foster innovation.

IFA to Silverlake Axis Ltd. for Voluntary Unconditional Offer

Financial Services

November 2024

E2I Pte. Ltd. ("E2I") launched a voluntary unconditional offer to acquire all issued and paid-up ordinary shares of Silverlake Axis Ltd. ("SAL"). The consideration of the offer was at the election of shareholders of either (i) a cash consideration; or (ii) a cash and redeemable preference share in E2I. PPCF was appointed as the Independent Financial Adviser (IFA) to the independent directors of SAL.

IFA to NTUC Health Co-Operative Ltd in relation to the Proposed Disposal of its Dental Business

Healthcare

April 2024

NTUC Health Co-Operative Ltd (“NTUC Health”) had received a non-binding letter of offer from Tangram Asia Capital LLP (“Tangram Asia”), an interested person, for the acquisition of specified assets relating to the dental business of NTUC Health (“Denticare Business”). The Denticare Business (previously known as Unity Denticare) provides individual and families with a comprehensive and integrated suite of quality general and preventive, restorative and aesthetic dental services.

PPCF assessed whether the proposed disposal of the Denticare Business was conducted on normal commercial terms and not prejudicial to the interests of NTUC Health. Our IFA letter was presented to the Board of Directors.

IFA to Keppel Ltd. for Interested Person Transactions

Energy

April 2024

PPCF was appointed by Keppel Ltd. as the Independent Financial Adviser (IFA) to evaluate on the terms of various proposed interested person transactions, including amendments to the Capacity Tolling Agreement (CTA) and Operations and Maintenance Services Agreement (OMSA), issuance of up to S$656.5 million in shares, and procurement of letters of credit amounting to up to S$30 million.

PPCF assessed whether the transactions were conducted on normal commercial terms as so to opine that the IPTs were not prejudicial to the interests of shareholders and Keppel Ltd. Our IFA letter was presented to the Board of Directors and appended in the circular sent to shareholders. At the EGM held on 23 April 2024, shareholders approved the transactions, facilitating KMC’s refinancing and operational restructuring.