Deluge Corporation Limited has lodged a preliminary prospectus with the Monetary Authority of Singapore (MAS) for its proposed initial public offering (IPO) on the Main Board of the Singapore Exchange (SGX). The company aims to list its ordinary shares, with SAC Capital Private Limited acting as the issue manager. The joint bookrunners and underwriters for the offering are SAC Capital and Maybank Securities Pte. Ltd.
The final prospectus will be available upon registration by the MAS, detailing the application process for interested investors. The prospectus will be accessible on the MAS OPERA website and the SGX-ST website, and physical copies can be obtained from SAC Capital and Maybank Securities during office hours.
The offering will include both a placement of shares to institutional and eligible investors and a public offer in Singapore. Additionally, cornerstone investors, including Amova Asset Management Asia Limited and Avanda Investment Management Pte. Ltd., have agreed to subscribe to 23.4 million shares at the offering price.
Deluge Corporation’s eligibility to list on the SGX-ST has been confirmed, although this does not imply an endorsement of the offering’s merits. The company has highlighted potential risks associated with investing in its shares, as detailed in the prospectus.
The IPO marks a significant step for Deluge Corporation as it seeks to expand its capital base and enhance its market presence. The listing is subject to regulatory approvals and market conditions, with the company poised to finalise its offering details in the coming weeks.
