GS Holdings Limited ("GSH" or the "Company") is offering 24m Placement Shares at $0.25 each for a listing on Catalist. The IPO will close on 14 Jan at 12pm with a market cap of around $31m. There is no public tranche.
The Company provides centralised cleaning for the F&B Industry. This picture below shows how the operations of the Company looks like.
It is probably quite unique in Singapore due to high manpower costs and our government is trying to reduce reliance on foreign labour on these jobs by automating the cleaning process.
The Company seemed to have covered Singapore quite extensively with this map above as it is one of the first mover in this space with ~40% market share.
Financial Highlights
According to the prospectus, the Company has secured $18.2m worth of order book as of 15 Dec 2015 with $14.2m expected to be recognised ...
