06 Jun
Posted by admin as China, IPO Singapore, Investment
A CONSTRUCTION firm based in China’s north-east with a string of commercial and civic projects under its belt is listing in Singapore.
Sino Construction aims to raise net proceeds of $35.6 million with its initial public offering (IPO) of 152 million shares priced at 39 cents apiece.
The company’s customers are mainly property and infrastructure developers and government-related bodies.
The offer, launched yesterday, comprises 6.4 million public-offer shares and 146 million placement shares.
Of the proceeds, $17.5 million has been earmarked for a concrete mixing base, $10 million will be used to purchase construction equipment, and the rest will serve as general working capital.