Sinda Ltd. Announces Launch of its Initial Public Offering

Sinda Ltd. Announces Launch of its Initial Public Offering

Sinda Ltd. (the "Company" or "Sinda”) today announced the launch of the roadshow for its initial public offering (“IPO”) of 17,750,000 shares of its common stock. In connection with the offering, Sinda expects to grant the underwriters a 30-day option to purchase up to 2,662,500 shares of common stock. The IPO price is expected to be between $11.25 and $13.25 per share.

Sinda's common stock has been approved for listing, subject to official notice of issuance, under the ticker symbol “SIND” on the New York Stock Exchange (“NYSE”).

Morgan Stanley, Scotiabank and BMO Capital Markets are acting as joint lead book-running managers for the proposed offering. Canaccord Genuity, Citigroup and RBC Capital Markets are acting as joint bookrunners.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the proposed offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Scotia Capital (USA) Inc., 250 Vesey Street, 24th Floor, New York, NY 10281, Attention: Equity Capital Markets, or by telephone at (212) 255-6854, or by email at us.ecm@scotiabank.com; and BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by email at bmoprospectus@bmo.com.