The Assembly Place IPO: Price, Date, Subscription (SGX)
Finding a fresh name on the Singapore Exchange (SGX) that feels both familiar and novel is rare — but The Assembly Place is about to change that. This coliving operator, which describes itself as Singapore’s largest community living platform, is listing on the SGX Catalist board on at an offer price of S$0.23 per share. With its IPO already 5.2 times oversubscribed, early signals point to strong retail appetite for a sector that’s still finding its public-market footing.
IPO Price: S$0.23 per share ·
Shares Offered: 51 million ·
Total Raise: S$18.5 million ·
Subscription Rate: 5.2 times ·
Listing Date: 23 Jan 2026 ·
Exchange: SGX-ST
Quick snapshot
- IPO price fixed at S$0.23 per share (SGX IPO Performance)
- Total shares offered: 50.3 million (The Straits Times)
- Net proceeds of about SGD 10.8 million (Serviced Apartment News)
- Listing on SGX Catalist on 23 Jan 2026 (SGX Listing Ceremony)
- Long-term share price performance post-listing
- Future dividend policy and payout ratio
- Insider lock-up details and potential selling pressure
- Detailed breakdown of net proceeds use beyond expansion
- Potential dilution from future share issuance
- Regulatory risks in coliving sector
- Dependence on key person Kishin RK
- IPO launch and prospectus published: 14 Jan 2026 (SGX Listing Ceremony)
- IPO closes: 21 Jan 2026
- Trading commences on SGX-ST: 23 Jan 2026 at 9:00 am (SGX IPO Performance)
- First trading day — price discovery at market open
- Analyst coverage and post-listing reports expected within weeks
- Use of proceeds for property expansion and working capital
- Potential inclusion in SGX small-cap indices
Key facts: The Assembly Place IPO at a glance
Eight data points, one snapshot of the offering structure.
| Label | Value |
|---|---|
| Company Name | The Assembly Place Holdings Ltd |
| Industry | Coliving / Community Living |
| IPO Price | S$0.23 |
| Shares Offered | 51,000,000 |
| Gross Proceeds | S$18.5 million |
| Subscription | 5.2 times oversubscribed |
| Listing Date | 23 Jan 2026 |
| Exchange | SGX-ST |
The pattern: a broad institutional base with a public tranche that saw 35.5 times demand — retail investors clearly wanted in.
Who is the owner of The Assembly Place?
Founders and key executives
The company is backed by Kishin RK, a well-known Singapore property developer and investor, who holds a significant stake. The executive team includes industry veterans from hospitality and real estate. The Board comprises members with experience in finance, property, and public listings, providing governance depth for a Catalist debut.
Major shareholders
- Kishin RK and related entities — controlling shareholder group
- Cornerstone investors: Apricot Capital, Asdew Acquisitions, Cache Capital, ICH Synergrowth Fund, and Maybank Securities subscribed for roughly 29.5 million shares (The Straits Times)
- Institutional placement investors (48.3 million shares placed privately) (Serviced Apartment News)
The implication: cornerstone involvement from five institutional names signals confidence in the business model, but the heavy concentration around Kishin RK means retail investors are betting on one family’s track record.
What is the IPO opening price?
Offer price per share
The offer price was set at a fixed S$0.23 per share (The Straits Times). The SGX IPO performance page (SGX IPO Performance) confirms the offer price as SGD 0.2300.
Comparison to IPO price range
Unlike many IPOs that use a price band, The Assembly Place went straight to a fixed price. No price range was published, simplifying the decision for retail applicants.
At S$0.23, the IPO priced at a level that allowed cornerstone investors to commit about SGD 6.8 million — roughly 37% of the gross proceeds — before the public offer even opened.
This pricing strategy anchored demand among institutional investors while leaving room for retail participation.
How much is The Assembly Place raising in its IPO?
Total gross proceeds
The company raised gross proceeds of S$18.343 million from the IPO, according to SGX official data. Net proceeds, after underwriting and other expenses, were about SGD 10.8 million (Serviced Apartment News).
Use of proceeds
- Expansion of coliving portfolio (new properties and refurbishments)
- Working capital for operations and marketing
- General corporate purposes
The pattern: the net proceeds represent about 59% of the gross raise — typical for a Catalist IPO where underwriting fees and sponsor costs are higher. Investors should monitor how efficiently the company deploys that SGD 10.8 million.
When will The Assembly Place start trading?
Listing date
The listing date is confirmed as 23 January 2026. SGX Listing Ceremony welcomes The Assembly Place Holdings Ltd. to Catalist on that day.
Trading commencement
Trading on a ready basis begins at 9:00 am SGX time on the same date. The opening trade opened at SGD 0.31, 34.8% above the IPO price (Serviced Apartment News).
A 34.8% first-day pop is a strong start, but coliving is a capital-intensive business. The market’s enthusiasm will be tested when the next quarterly results are disclosed.
The opening trade set a high bar; the true test lies in sustained operational performance.
Is The Assembly Place IPO oversubscribed?
Subscription rate
- Overall: 5.2 times subscribed (Serviced Apartment News)
- Public tranche: 35.5 times oversubscribed (Serviced Apartment News)
- Private placement: 3.9 times subscribed (Serviced Apartment News)
Investor demand
Total interested amounted to roughly SGD 59.5 million, far exceeding the S$18.3 million on offer (Serviced Apartment News). The public tranche demand was exceptionally high, reflecting strong retail appetite for a story-driven IPO.
Why this matters: a 35.5× public oversubscription ratio is rare on SGX for a non-Reit IPO. It suggests that retail investors saw The Assembly Place as a unique growth play, not just a property stock.
IPO timeline
- 14 Jan 2026 — IPO launch; prospectus published, offering opens (SGX Listing Ceremony)
- 21 Jan 2026 — IPO closes at 12:00 pm
- 23 Jan 2026 — Listing and trading commence on SGX-ST at 9:00 am (SGX IPO Performance)
The trade-off: a tight 7-day application window meant investors had to act fast. Those who missed the IPO could only buy on market debut at the higher opening price.
Clarity check: confirmed vs. unclear
Confirmed facts
- IPO price S$0.23 per share (SGX prospectus)
- Total shares offered 50.3 million (The Straits Times)
- Gross proceeds S$18.343 million (SGX official data)
- Net proceeds ~SGD 10.8 million (Serviced Apartment News)
- Overall subscription 5.2 times (Serviced Apartment News)
- Public tranche 35.5 times oversubscribed (Serviced Apartment News)
- Listing date 23 Jan 2026 (SGX)
- First trade at SGD 0.31, up 34.8% (Serviced Apartment News)
What’s unclear
- Long-term share price trajectory
- Future dividend policy and payout schedule
- Insider lock-up details and selling restrictions
- Use of proceeds breakdown beyond broad categories
- Post-IPO valuation multiples and earnings visibility
- Potential dilution from future share issuance
- Regulatory risks in coliving sector
- Dependence on key person Kishin RK
The balance of known and unknown factors suggests that near-term volatility is likely until the company reports its first post-listing earnings.
What the company and media are saying
“The Assembly Place has launched our initial public offering (IPO) at S$0.23 per share, with 51.0 million shares available.”
— The Assembly Place official LinkedIn (company social media post)
“The Assembly Place has started trading on SGX-ST following the company’s IPO which was 5.2 times subscribed.”
— Serviced Apartment News (industry publication covering serviced apartment and coliving sectors)
These statements underscore the market’s initial optimism, but they also highlight the gap between IPO enthusiasm and long-term business fundamentals.
What it means for investors
The Assembly Place IPO has delivered a textbook debut: oversubscribed across all tranches, a strong first-day pop, and a clear narrative of Singapore’s largest community living operator going public. But coliving is a capital-intensive business with thin margins, and the net raise of S$10.8 million will only go so far. For retail investors eyeing the aftermarket, the trade-off is buying into early momentum versus waiting for quarterly earnings that prove the unit economics. For those who missed the IPO, the question is whether the 34.8% premium is justified by the company’s ability to scale its 3,422-key portfolio. For the Singapore investor, the choice is clear: either ride the listing hype with tight stop-losses, or sit out until the first full-year results land.
Frequently asked questions
What is the business model of The Assembly Place?
The Assembly Place operates coliving properties — fully furnished shared living spaces with community-oriented facilities. It earns rental income and service fees from tenants, typically under long-term leases on the properties it manages.
How to buy shares in The Assembly Place IPO?
The IPO has already closed. Investors can buy shares on SGX-ST through any brokerage account once trading begins on 23 Jan 2026.
What is the minimum investment required?
For the IPO, the minimum application was 1,000 shares (S$230). For secondary market trading, investors can buy in board lots of 100 shares.
Who are the underwriters for the IPO?
Maybank Securities acted as the issue manager and underwriter, alongside other placement agents. Maybank also participated as a cornerstone investor (The Straits Times).
What is the lock-up period for insiders?
Specific lock-up details were not disclosed in the public prospectus. Typically for Catalist IPOs, promoters and controlling shareholders are subject to a 6-month moratorium on share sales. Investors should check the prospectus for exact terms.
What are the risks of investing in The Assembly Place?
Key risks include: reliance on property leases, high capital expenditure for expansion, competitive pressure from other coliving operators, and potential slowdown in Singapore’s rental market.
What is the expected first-day trading range?
The stock opened at S$0.31, 34.8% above the IPO price. Market depth and trading volumes will determine intraday range.
How does The Assembly Place compare to other coliving operators?
As the first coliving operator listed on SGX, it has no direct public-market comparable in Singapore. Private competitors include Hmlet, Cove, and Coliwoo, but their financials are not publicly available.
These FAQs cover the most common investor concerns, but as always, prospective buyers should read the full prospectus before making any decisions.
Related reading
- How to Invest CPF: Guide to CPF Investment Scheme 2025 — For Singapore investors planning to use CPF funds for IPO investments.
- Semiconductor Companies in Singapore: Top Firms 2025 — Another sector with active SGX listings and growth stories.
These articles provide additional context for Singapore investors exploring IPOs and stock market opportunities.
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