Singapore’s Sarment files for IPO to raise up to CDN $53M

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By Ted Liu

Sarment Holding Limited has filed a preliminary prospectus for initial public offering (IPO) of its ordinary shares for gross proceeds of between of CDN $33 million and $53 million.

The offering is made on a “best-efforts” basis by Haywood Securities Inc. as lead agent and sole bookrunner with Canaccord Genuity Corp., Cormark Securities Inc. and Paradigm Capital Inc. as underwriting syndicate members.

DLA Piper (Canada) LLP and Fogler, Rubinoff LLP are acting as legal counsels to Sarment and the agents respectively.

Founded in 2012 by Bertrand Faure Beaulieu, Sarment is a luxury lifestyle service provider focused on Ultra-High-Net-Worth individuals and High-Net-Worth individuals. The company began offering personalized luxury products and services in 2012 in Singapore, Hong Kong and Shanghai.

As at January 31, 2018, Sarment had 135 full-time employees and 12 contractors globally.

Sarment has 31,866,640 ordinary shares issued and outstanding, after giving effect to the restructuring and the share split.

Major shareholders include [mepr-active rule=”374″ ifallowed=”hide”]#SUBSCRIBERS ONLY CONTENT Where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. See what you have been missing and be informed!#[/mepr-active][mepr-active rule=”374″]Vino Ventures Limited (Paolo Bulgari, Chairman of Bulgari S.p.a., a company that engages in the design, production and sale of jewellery, watches, accessories perfumes and skincare products) – 11,291,280 shares, Bertrand Faure Beaulieu – 8,539,440 shares, Mark Irwin (director of the Singapore based Trafigura Group Pte Limited, one of the largest physical commodities trading groups in the world) – 5,965,440 shares, Claude Dauphin Estate (late Claude Dauphin was the founder CEO of Trafigur) – 5,830,240 shares.[/mepr-active]

photo credit: Sarment