Singapore: E-retailer Y Ventures targets $5.5m IPO

Visual from company website.

Y Ventures Group, which pitches itself as a data-driven e-commerce retailer and distributor, is seeking to raise up to $5.572 million (S$7.7 million) from its upcoming listing on Singapore Exchange’s Catalist board.

The issue manager and sponsor is RHT Capital and the placement agent is UOB Kay Hian. The firms’ initial public offer (IPO) will close on 7 July at 12 noon and commence trading on 11 July at 9 am.

The Singapore-based company is offering 35 million shares at S$0.22 cents apiece. It seeks to use S$6 million of its S$7.7 million IPO target to fund expansion via R&D of data analytics capabilities, advertising and developing its product range and new markets plus general working capital purposes, reports said.

Founded in 2004, Y Ventures boasts of retailing over 5,500 curated SKUs on 24 major online marketplaces across nine countries.

Post-listing, Adam Low Yik Sen, the executive chairman and managing director, and chief executive and executive director Alex Low Yi Ji will remain as controlling shareholders. Each is expected to hold 35.6 per cent of the total post-placement share capital.

“Capitalising on our data analytics capabilities, we partner with the world’s leading brands to sell their products in multiple countries across various online marketplaces,” Y Ventures posted on its website.

Y Ventures disclosed on its prospectus that it plans to “acquire distributors with strategic alignments and invest in consumer product brands, existing channel stores and overseas joint ventures.”

The firm said it drives sales for third party brands and its private label “JustNile” on online marketplaces such as Amazon, eBay, Qoo10, Lazada and Shopee with insights that it derives from its proprietary data analytics capabilities.

Y Ventures recently reported its revenue reached $12 million in 2016.

The company operates with a scalable business, given its focus on digital enterprise, but the firm will need to scale into faster-moving goods with higher margins to boost their profitability.

With the growth of e-commerce sector worldwide putting pressure on offline retailers, as well as growing proliferation of smartphone, this macroeconomic scenario is likely to underpin the growth of Y Ventures.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.