Drew & Napier acted as legal adviser on Singapore law to IAG Holdings Limited ("Company") in connection with the initial public offering ("IPO") of 100,000,000 shares of the Company on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited.
The Company and its subsidiaries are a contract manufacturer based in Singapore and Batam, Indonesia specialising in the manufacture and sale of injection molded plastic parts for disposable medical devices and the provision of tooling services.
The IPO of 100,000,000 shares was priced at HK$0.65 for each share, and consists of 30,000,000 shares by way of public offer and 70,000,000 shares by way of placement. The net proceeds to be received by the Company after deducting underwriting fees and estimated expenses is estimated to be approximately HK$40.0 million (equivalent to approximately S$7.1 million).
Directors Julian Kwek and Steven Lo, Senior Associate Michael Kwan and Associate Stephanie Teong led the transaction.