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TEE International Ltd Updates On Proposed Listing Of TEE Land Limited


Wednesday, 29 May 2013 07:47pm EDT 

TEE International Ltd announced that with reference to the announcement made earlier, the Company now announced that the launch of the Initial Public Offering of TEE Land Limited (TEE Land), following the registration, on May 29, 2013, by the Monetary Authority of Singapore (the MAS) of the prospectus dated May 29, 2013 (the Final Prospectus) issued in conjunction with the Invitation. SAC Capital Private Limited (SAC Capital) is the Issue Manager, Underwriter, Lead Placement Agent and Stabilizing Manager, while RHB Bank Berhad, Singapore Branch (RHB Bank) is the Joint Placement Agent. The Invitation comprises an offering of 115,000,000 new TEE Land Shares (the Invitation Shares) for which TEE Land invites applications for pursuant to the Invitation, subject to and on the terms and conditions of the Final Prospectus, at SGD0.54 (the Issue Price) for each Invitation Share as follows: a public offer of 6,000,000 Invitation Shares offered to the public in Singapore for subscription (the Public Offer Shares); and a placement of 109,000,000 Invitation Shares (the Placement Shares), comprising: 98,000,000 Placement Shares; and 11,000,000 TEE Land Shares reserved for subscription by directors and employees of the Company (save for Mr. Phua Chian Kin), and directors, employees, business associates of TEE Land and those who have contributed to the success of the TEE Land Group (the Reserved Shares), payable in full on application (subject to the Over-allotment Option). 

Company Quote

0.275
-0.0050 -1.79%
10 Jul 2014