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SMRT Corporation Ltd
* * *
(Incorporated in the Republic of Singapore with limited liability on 6 March 2000)
Invitation in respect of 492,000,000 existing Shares of par value S$0.10 each comprising :
- 270,000,000 Placement Shares at S$0.61 each by way of placement; and
- 222,000,000 Offer Shares at S$0.61 each, comprising:
- 209,500,000 Offer Shares by way of public offer; and
- 12,500,000 Offer Shares reserved for Directors, employees and immediate past directors of the Group, payable in full on application. (subject to an Over-allotment Option of up to 73,800,000 Shares)
Temasek Holdings (Private) Limited ("Temasek" or the "Vendor") is pleased to announce that at the close of the Application List at 8.00 am on 25 July 2000, there were 110,671 applications for the 209,500,000 Offer Shares available to the public for subscription. In total, these applicants applied for 1,080,222,000 Offer Shares, with application moneys received amounting to approximately S$658.9 million.
Based on the 209,500,000 Offer Shares available to the public for subscription, the offer to the public is approximately 5.2 times subscribed.
To ensure a reasonable spread of shareholders of SMRT Corporation Ltd ("SMRT Corporation" or the "Company"), it has been decided that all valid applications complying in full with the terms and conditions in the Prospectus dated 17 July 2000 will be allocated shares. The allocation are as follows:-
| Range of Offer Shares Applied for |
No. of Offer Shares Allocated per Successful Applicant |
Percentage of Total No. of Offer Shares Available to the Public |
No. of
Applicants |
| ('000) |
('000) |
(%) |
|
| 1 to 4 |
1 |
29.32 |
61,875 |
| 5 to 9 |
>2 |
16.31 |
17,209 |
| 10 to 24 |
3 |
36.56 |
25,723 |
| 25 to 49 |
4 |
2.77 |
1,462 |
| 50 to 99 |
5 |
5.16 |
2,179 |
| 100 to 499 |
8 |
7.57 |
1,998 |
| 500 to 999 |
15 |
0.78 |
110 |
| 1,000 to 5,000 |
28 |
1.51 |
114 |
| 5,001 and above |
37 |
0.02 |
1 |
| |
|
|
110,671 |
Of the 270,000,000 Placement Shares, 269,936,000 Placement Shares have been successfully purchased. The balance of 64,000 Placement Shares have been re-allocated to satisfy applications for the Offer Shares by the public. The spread of placees is as follows:-
Range of Placement Shares Applied for
(000) |
Number of Placees |
| 1 to 9 |
747 |
| 10 to 49 |
494 |
| 50 to 99 |
121 |
| 100 to 499 |
221 |
| 500 to 999 |
41 |
| 1,000 and above |
73 |
| |
1,697 |
Of the 12,500,000 Reserved Shares, 10,996,000 Reserved Shares have been purchased by the Directors, employees and immediate past directors of SMRT Corporation group. The balance of 1,504,000 Reserved Shares have been re-allocated to satisfy applications for the Offer Shares by the public. The spread of Reserved Shares is as follows:-
| Range of Reserved Shares Applied for
(000) |
Number of Applicants |
| 1 to 9 |
2,126 |
| 10 to 49 |
196 |
| 50 to 99 |
14 |
| 100 and above |
1 |
| |
2,337 |
The Shares will commence trading on a "ready" basis on 26 July 2000. There will be NO trading on a "when-issued" basis.
Unsuccessful invalid applications using printed Application Forms will be returned by ordinary post at the risk of the unsuccessful applicants, together with the full amount of the application moneys (without interest or any share of revenue or other benefit arising therefrom), commencing today and the return is expected to be completed by 28 July 2000. For unsuccessful invalid Electronic Applications, it is expected that the full amount of the application moneys (without interest or any share of revenue or other benefit arising therefrom) will be credited to the applicants accounts with their Participating Banks (as defined in the Prospectus dated 17 July 2000) within three market days after the close of the Application List on 25 July 2000.
In respect of partially successful applications, the balance of the application moneys is expected to be refunded (without any interest or any share of revenue or other benefit arising therefrom) to the applicants, by ordinary post at their own risk (in the case of applications made using printed Application Forms) or through the crediting of the relevant amount to the applicants accounts with their Participating Banks (in the case of Electronic Applications) within 14 days after the close of the Application List on 25 July 2000.
Pursuant to Regulation 37A(2)(e) of the Securities Industry Regulations, it is hereby announced that up to a total number of 73,800,000 Shares are the subject to the Over-allotment Option referred to in the Prospectus dated 17th July 2000.
Temasek and SMRT Corporation wishes to thank the public who have applied for the Offer Shares and the Placement Shares, the relevant authorities and all who have helped in one way or another in SMRT Corporations initial public offering, for their support and assistance.
DBS Bank and POSBank customers who APPLY USING CASH ONLY, may call the DBS IPO Results Enquiry Service at 327 4767 to check the provisional results of their IPO applications. Customers will be required to enter their CDP Securities Account Number when utilising the automated service.
DBS Bank and POSBank customers who APPLY USING CPF or CASH AND CPF, may call the DBS Autophone 1800-222 2222 to check the provisional results of their IPO applications. Customers must have an Autophone Account to utilise the automated service.
Issued by
The Development Bank of Singapore Ltd and
UBS Warburg
For and on behalf of
SMRT Corporation Ltd and
Temasek Holdings (Private) Limited
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