SINGAPORE: Pawnbroking chain MoneyMax Financial Services is expected to net proceeds of S$14.4 million via an initial public offering (IPO) for a Catalist listing.
The IPO will see 53.8 million new shares on offer at 30 cents per share, of which two million offer shares will be available to the public.
MoneyMax said they plan to use the proceeds to open new outlets as well as for working capital.
The chain, which is linked to Soo Kee Group, opened its first outlet in 2008 and has since grown to 27 outlets islandwide.
The IPO will close at noon on July 31.
Trading of MoneyMax's shares is expected to start on August 2.
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