Shares & Derivatives
Soilbuild Construction Group Ltd IPO
By StockBrokerPlaysPoker  •  May 18, 2013
Link to prospectus here  
News: SINGAPORE — Only two years after he took property firm Soilbuild Group Holdings private, company co-founder Lim Chap Huat is listing one of its components, Soilbuild Construction Group, through a public offering that will raise S$42 million. A total of 168 million shares, of which only two will be sold to the general public, will be offered at 25 cents each. The offering, representing 26.5 per cent of the company, values Soilbuild Construction at about S$160 million.
The proceeds will be used to improve productivity, fund expansion into overseas markets and for working capital. Mr Lim, who is Executive Chairman and will retain 73.5 per cent of the company, said: “We intend to further develop our position in the public housing sector as HDB ramps up the construction in the coming years.” The company’s order book as at end-April amounted to S$511.......
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By StockBrokerPlaysPoker
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