Trendlines IPO Completed with Strong Investor Interest, S$38.7 Million Total Proceeds Raised
-- Placement of 75,760,000 IPO shares priced at S$0.33 per share; IPO proceeds of S$25 million (US$17.7 million)
-- S$13.7 million (US$9.7 million) pre-IPO investment brings total IPO-related financing to S$38.7 million (US$27.4 million)
-- Indication of interests from investors significantly exceeded number of shares offered
-- B. BRAUN Melsungen AG, a global healthcare supplier, subscribed for S$7.1 million (US$5.0 million) of Trendlines' shares
MISGAV, Israel, Nov. 25, 2015 /PRNewswire/ -- The Trendlines Group Ltd. ("Trendlines"), an Israeli company focused on developing technology-based companies in the medical and agricultural fields, announced today that further to the launch of its initial public offering ("IPO") on the Catalist of the Singapore Exchange Securities Trading Limited ("SGX-ST") on 16 November 2015, the placement of the IPO shares has been successfully completed.
Trendlines offered 75,760,000 placement shares at S$0.33 per share, which was approximately 1.4 times price-to-book of Trendlines' net tangible assets value as at 30 June 2015.
Trendlines received strong interest from investors during the road show, and indications of interests from investors significantly exceeded the number of shares offered. A total of S$25 million (US$17.7 million) was raised, including S$7.1 million (US$5.0 million) from cornerstone investor B. BRAUN Melsungen AG ("B. BRAUN"), a healthcare supplier with global sales of healthcare products of €5.43 billion.
In the pre-IPO stage, Trendlines raised S$13.7 million (US$9.7 million) from investors, bringing total IPO-related proceeds to S$38.7 million (US$27.4 million).
Commenting on the successful placement of the IPO shares, D. Todd Dollinger, Co-Chairman and CEO of Trendlines, said, "It was encouraging to see the interest from investors. While Trendlines' business model is unusual compared to most of the listed companies in Singapore, investors understood Trendlines' ability to incubate technology-based companies in the medical and agricultural fields, bring them to commercialization, and achieve significant returns for investors. The value of investing in Trendlines is well validated by cornerstone investor B. Braun's strategic investment in us."
Steve Rhodes, Co-Chairman and CEO of Trendlines, added, "We believe that this successful placement establishes a great start for Trendlines' trading on the Catalist of SGX-ST. The additional funds build Trendlines' strong financial position, providing the flexibility to make follow-on investments in portfolio companies, expand into new markets, grow Trendlines Labs, and support and increase the number of portfolio companies."
The trading of Trendlines' shares on Catalist is expected to commence at 9:00am on 26 November 2015. PrimePartners Corporate Finance Pte. Ltd. is the sponsor, issue manager and placement agent for the IPO.
The Trendlines Group Ltd. (www.trendlines.com) discovers, invests in, incubates and provides supports life sciences companies in the fields of medical and agricultural technologies in line with its mission to improve the human condition.
 All currency conversion in the press release is based on USD/SGD of 1.41 as of 20 November 2015
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SOURCE The Trendlines Group Ltd.