Viz Branz pulls Singapore IPO

Instant coffee, tea and cereal manufacturer cancels Singapore Stock Exchange flotation on its scheduled pricing day after controlling shareholder baulks at the valuation.

Viz Branz pulls Singapore IPO

Viz Branz cancelled its initial public offering on Thursday after the company’s owner, Ben Chng Beng Beng, decided he was not prepared to accept a valuation at the very bottom of the price range.

The transaction's demise is likely to be viewed as a disappointment in Singapore, where it would have added some diversification from the real estate investment trusts and oil services companies, which dominate the new issue market. 

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