The Straits Times / The Business Times News on
ISDN Holdings

ISDN flotation to raise $6.4m

16 November 2005
The Straits Times

MECHATRONICS engineering company ISDN Holdings has launched its initial public offer (IPO) of 39.7 million shares at 29 cents each.

Of the total, 1.5 million shares will be offered to the public while the rest are placement shares, reserved shares and Internet placement shares. The shares will be listed on the Singapore Exchange's mainboard.

ISDN plans to use $1.5 million - of the $6.43 million of its net proceeds - for acquisitions, joint ventures and strategic alliances.

Its business is divided into two segments - motion control and industrial computing.

It intends to distribute dividends of up to 50 per cent of its net profits for the current financial year.

Westcomb Capital is its IPO manager.