Karaoke operator Goodwill Entertainment aims to hit the right notes in Catalist IPO, raise S$6.5 million in net proceeds

KARAOKE and live show operator Goodwill Entertainment is looking to raise S$6.5 million in net proceeds from its listing on the Catalist board of the Singapore Exchange, the company said on Wednesday (Oct 30).

The 60 million placement shares, priced at S$0.20 apiece, comprise 42.5 million new shares and 17.5 million vendor shares. There will be no public tranche.

In total, the placement of new and vendor shares will raise S$12 million in gross proceeds. The net proceeds from new and vendor shares will be approximately S$9.8 million.