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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62380)	3/27/2002 4:35:43 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

PNE Micron to offer about 60 mln shares in S'pore IPO SINGAPORE, March 27 (Reuters) - sg.biz.yahoo.com Singapore-based PNE Micron Holdings, an electro-deposition coating specialist, is expected to offer around 60 million shares in its initial public offering (IPO), a spokesman for the firm told Reuters on Wednesday. He said the firm was looking to raise in excess of S$10 million ($5.49 million) in net proceeds mainly to fund its expansion in the region. He declind to reveal pricing details. PNE Micron said separately in a statement it had received in-principle approval to list on the second board of the Singapore Exchange. It said the lead manager for the issue is SBI E2-Capital, a Singapore corporate finance firm linked to the Softbank Investment Group <9984.T>. PNE Micron counts Matsushita Electronics <6752.T> and Casio Group <6952.T> among its customers and plans to set up two new plants by September. It currently has six plants in Malaysia. PNE Micron posted a pre-tax profit of S$3.8 million on a turnover of S$24.7 million for the financial year ended September 30, 2001. ($1=1.822 Singapore Dollar)