At 22.5 cents, NoonTalk’s debut on SGX is above its IPO price. In a move celebrated by artistes and staff of the company, NoonTalk has stepped into the world of investing.
What is NoonTalk by Dasmond Koh?
No, not BreadTalk.
Founded in 2011 by ex-deejay, actor and show presenter Dasmond Koh, NoonTalk Media is a Singapore-based and home-grown media entertainment company that specialises in artiste and talent management, multimedia production and event conceptualisation.
It aims to make Singapore’s mediascape vibrant by being the leading media agency in ushering in new and thrilling content to fit the needs of its audience. Particularly, it focuses on igniting passion and interest in the Chinese language and culture among its younger audience.
You might recognise NoonTalk from its pool of well-known artistes. Boasting some of the biggest names in Singapore’s entertainment industry, like the late Aloysius Pang, Kimberly Chia and Xu Bin, NoonTalk has seen its fair share of success. (Lest we forget that the chief executive himself, Dasmond Koh, is a Singaporean household name too.)
Alternatively, you might recognise them for their production of films, television programmes and video content for companies like Shopee and Audi Singapore.
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Apart from its role in the entertainment sector, what you might not know is that NoonTalk also offers event conceptualisation as one of its services. It specialises in organising live events such as grand openings, awards presentations, product launches, gala events and many more.
Notably, NoonTalk has provided multimedia production services for Chingay 2022 and has been appointed by the People’s Association to do so again for Chingay 2023.
Generally, NoonTalk has made quite a name for itself, dabbling in various sectors in Singapore’s entertainment sector. And it shows no signs of slowing down.
NoonTalk’s Debut on SGX
Debuting at 22.5 cents on SGX, NoonTalk eventually closed at 22 cents, giving the stock a market capitalisation of $43.6 million.
Earlier on, NoonTalk had sold 22 million new shares, comprising 4.5 million public offer shares and 17.5 million placement shares. This raised gross proceeds of $4.8 million, or $3.3 million in net proceeds.
Furthermore, of the 4.5 million public shares available, there were valid applications for 5.3 million shares, making it 1.2 times subscribed.
NoonTalk, before its IPO, was already backed by noteworthy investors.
These include liquefied natural gas supplier Union Energy Corporation (which took up 2 million shares), managing director of Sheng Siong Group, Lim Hock Leng, (which took up 4.4 million shares), a Singapore-based family office, Qilin Wealth Fund, (which took up 1.35 million shares) and more.
Even former member of parliament, now executive director of CITIC Envirotech, Chong Weng Chiew, took up 1.35 million shares.
NoonTalk has undoubtedly garnered flashy anchor investors, to the delight of Dasmond Koh who has expressed his gratitude for the “overwhelming support” of people who have supported him and his company.
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NoonTalk Goes Public – a Power Play?
There are many reasons why a company would pursue an IPO. From raising capital to boosting its public profile, selling public shares can help a company raise additional funds. This can then contribute to the expansion of its business or even to paying off debt.
So, why doesn’t every company just go public?
Make no mistake in thinking listing is easy because going public is no small deal. Going public brings a company many opportunities for publicity and media coverage.
You could say, having read this article to this point, that that aligns scarily well with NoonTalk’s goals. And you would be right. Listing on SGX definitely lends NoonTalk quite some credit for this feat and catches the public’s attention. In fact, the chief executive himself acknowledges this.
As Dasmond Koh said, “Listing on SGX serves as a platform to enhance our exposure and allows us to gain access to the capital markets to extend our regional footprint.”
Moreover, while NoonTalk’s debut certainly seems impressive (being listed on SGX is expensive, to say the least), a look at its revenue and profits may make you double-take.
In NoonTalk’s financial year 2022, it posted a net profit of $22,407.
Before that, its net profit is $73,939 and $189,244.
Well, at least it’s profitable.
Over the last three years, its revenue was at $3.04 million, $3.83 million and $6.37 million. Pretty high if you look at face value, but since it’s a company’s annual revenue and not a CEO’s annual salary, it’s not as high as other firms.
A Trend of Listing Entertainment Companies?
Hearing about NoonTalk’s listing might not have come as a surprise to you—it might even sound a little too familiar.
You would probably be thinking of Big Hit Entertainment—home of K-pop sensation BTS.
On 15 October 2020, Big Hit Entertainment made an impressive and splashy stock market debut. It is listed on the Korea Composite Stock Price Index (KOSPI), the index of all common stocks traded on the Stock Market Division of the Korea Exchange.
For context, the KOSPI is an extremely revered index, the equivalent of the United States’ S&P 500.
And its revenue is over SGD$1 billion.
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