NoonTalk Media has lodged its preliminary offer document with the Singapore Exchange Securities Trading Limited (SGX-ST) on Oct 28.
The Singapore-based media company, which represents artistes such as Xu Bin, Kimberly Chia and Zong Zijie, is seeking to list on the SGX-ST’s Catalist board.
Beyond managing its freelance and in-house artistes, NoonTalk Media is also a multimedia production and event conceptualisation company.
NoonTalk Media was co-founded by former DJ and actor Dasmond Koh and incorporated in April 2011. Koh is also the controlling shareholder, executive director and CEO of the company. The rest of the company’s directors are Dr. Lynda Wee, non-executive chairman and independent director; Jed Tay, executive director and chief operating officer (COO); Soh Gim Teik, lead independent director; and Cruz Teng, independent director.
“Our directors believe that the listing of our company and the quotation of our shares on Catalist will enhance our public image locally and overseas and enable us to raise funds from the capital markets for the expansion of our business operations,” reads the offer document released on Oct 28.
According to its financial statements, NoonTalk Media has demonstrated revenue growth for the past three years from FY2020 to FY2022, with revenue at $3.04 million, $3.83 million and $6.37 million for the FY2020, FY2021 and FY2022 respectively.
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The higher revenue in FY2022 was mainly due to an increase in revenue from our production and management and events business segments.
The company’s earnings, however, stood at $73,939, $189,244 and $22,407 for the FY2020, FY2021 and FY2022 respectively. The plunge in earnings for the FY2022 was attributable to the lower production business segment due to its lower gross profit margin (GPM), as well as other factors.
The company’s pre-offering earnings per share (EPS) for the FY2020, FY2021 and FY2022 stood at 4 cents, 11 cents and 1 cent respectively. The EPS is based on the company’s share capital of 175,999,998 shares. The company’s total issued and paid-up share capital is currently $4.2 million.
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In its offer document, NoonTalk Media says it intends to “further cultivate our relationships and connections with existing and potential partners across the Asia-Pacific region, including in Thailand and China where we have extensive relationships with our partners, with a view towards exploring significant new opportunities for partnerships and collaborations”.
Potential partnerships include movie and drama collaborations geared towards showcasing its artistes to strengthen its market leadership in its core markets across the Asia-Pacific region.
In addition, the company says it intends to drive its long-term through pursuing strategic investments and acquisitions in production companies within the Southeast Asian region following the offering.
Furthermore, the company seeks to diversify its operations through venturing into partnerships with companies in relevant industries such as meeting, incentive, convention and exhibition (MICE) events.
According to the document, the company’s directors believe that the company’s prospects are encouraging due to the strong demand for full-service media companies, the number of market opportunities within Southeast Asia, as well as new opportunities from an evolving social media landscape.
Evolve Capital Advisory Private Limited is the sponsor, issue manager and co-placement agent, while CGS-CIMB Securities (Singapore) Pte. Ltd. is the underwriter and co-placement agent for the initial public offering.
