Soilbuild Construction Group Ltd (“Soilbuild” or the “Company”) is offering 168m new shares for its initial public offering at $0.25 each. The prospectus is here.
- 2m shares will be for the public
- 166m share via placement.
The IPO will close on 22 May 2013 at 12pm and starts trading on 27 May.
Soilbuild is a A1-graded construction group with design and build, turnkey and project management services. It has a 36 year old track record in consulting business spaces, HDB and condominiums. By definition, A1-graded means that it can tender for public sector projects in Singapore with unlimited contract value. The areas of focus for Soilbuild is residential and business spaces As of the date of the prospectus, the order book stands at over $500m.
I never like the construction sector because the revenue and profitability is rather lumpy even though this Company has been able to …