Colin Ng & Partners LLP (“CNP”) advised and acted as solicitors for Synagie Corporation Ltd. (“Synagie”) in its initial public offering (“IPO”) on the Catalist Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”). The IPO of 43 million invitation shares in the capital of Synagie at S$0.27 per share raised approximately S$11.6 million in gross proceeds and S$9.8 million in net proceeds. The amount raised will be used for business expansion, including penetrating new geographical locations, investments in information technology capabilities, mergers and acquisitions and working capital.
According to Frost & Sullivan (Singapore) Pte Ltd, Synagie is South East Asia’s (“SE Asia”) leading E-commerce enabler in the Body, Beauty and Baby (“BBB”) sector and also the fastest-growing E-commerce start-up in Singapore and one of the fastest-growing in SE Asia. It has more than 250 Brand Partners in the BBB sector such as Johnson & Johnson, Kimberly-Clark and Shiseido.
Partners, Tan Min-Li and Stephen Soh, together with Senior Associate, Low Zhi Ni, Associate, Jennifer Lo and Paralegal, Samuel Ling advised Synagie on the listing.