TGL News

While August is typically a slow month for capital markets, monthly issuance reached double digits for the first time this year as 12 small IPOs raised a combined $196 million. The largest deal raised just $36 million, and the median deal size remained low at $15 million. August IPOs averaged a return of over 1,000% from offer due to a volatile uplisting that began trading on the...read more

So far in 2022, IPO activity has been dominated by small, volatile issuers. Of the year’s 51 pricings to date, 19 (37%) have soared 100% or more in their debuts, while one-in-ten have jumped at least 500%. But those with the largest first-day pops have posted some of the worst losses in the aftermarket. ...read more

While IPO activity typically takes a break in August, 2022 continues to throw curveballs. Four small deals priced this past week, joined by two SPACs. Two small IPOs and one SPAC submitted initial filings. Malaysian e-payment app Treasure Global (TGL) priced at the low end to raise $8 million at a $65 million market cap. The company’s ZCITY App offers...read more

Treasure Global, which provides an e-payment app in Malaysia that offers instant rebates, raised $8 million by offering 2 million shares at $4, the low end of the range of $4 to $6. The company offered 0.5 million more shares than anticipated. It originally planned to offer 3 million shares at $4 to $6 before cutting the share offering to 1.2 million in July, then increasing it to 1...read more