Cornerstone investors including Apricot Capital, Asdew Acquisitions, Cache Capital, ICH Synergrowth Fund, Maybank Securities (on behalf of certain high net worth clients), as well as individuals Cheah Chi Kong, Johnathan and Deepak Lakhi Ramchandani, will subscribe for approximately 29.5 million cornerstone shares.
One of Singapore’s largest co-living operator The Assembly Place (TAP) is seeking an initial public offering (IPO) on the Catalist board of Singapore Exchange (SGX) to fund its expansion plans.
TAP is expecting to raise about $18.3 million in gross proceeds from its invitation and cornerstone tranche. The invitation will offer a total of 50.3 million ordinary shares priced at 23 cents each. This brings the group’s market capitalisation to $88.1 million.
