Israel’s Trendlines Launches S’pore IPO, Aims For Late Nov Catalist Listing

TODAY: Trendlines Group, an Israeli company focused on developing technology-based companies in the medical and agricultural fields, launched an initial public offering yesterday to raise S$25 million.

Trendlines, which is targeting a Nov 26 listing on the Catalist board, will be the second Israeli company to list on the Singapore Exchange, and the first in a decade. The first company was Sarin Technologies, a company that develops and manufactures tools for the processing of diamonds and gemstones, on the SGX mainboard in 2005.

Trendlines will offer 75.7 million placement shares at S$0.33 apiece, the proceeds of which will be used to invest in incubators, make follow-up investments in existing companies and start new companies, Trendlines said yesterday. The offer closes at noon on Nov 24.
The IPO brings the company’s market capitalisation to S$167.9 million.
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