Deals
Singapore Chili-Crab IPO Attracts Temasek Arm, Osim Founder
- Jumbo Group to start taking orders from public this week
- S$40 million deal would be Singapore's largest IPO in 2015
A dish of chili crab at the Jumbo Seafood Riverside restaurant in Singapore.
Photographer: Sam Kang Li/BloombergThis article is for subscribers only.
Jumbo Group Ltd., which runs chili-crab restaurants in Singapore, has attracted an arm of state investment company Temasek Holdings Pte and the founder of Asia’s biggest massage-chair maker as cornerstone investors for its S$40 million ($29 million) initial public offering.
Heliconia Capital Management Pte, a unit of the Singapore state investment company, agreed to invest S$10 million, while Osim International Ltd. chairman Ron Sim will buy S$8 million of stock, according to a Singapore Exchange filing Wednesday. Jumbo will offer another 88.2 million shares to institutions and individual investors at 25 Singapore cents apiece, the filing shows.