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Singapore Exchange (SGX) today welcomed Figtree Holdings Limited to its Catalist board under the stock code “5F4”.
Figtree Holdings designs industrial and commercial properties with a business focus in Singapore, China and Malaysia. It is also involved in the building and development of such properties. The company is planning to grow its design, consulting and development business as the demand for industrial and logistics space in Asia rises.
Danny Siaw, Executive Chairman and Managing Director of Figtree Holdings, said, “It is gratifying to know that our IPO has attracted a very strong interest from investors. Figtree has built a reputation for the design and building of commercial and industrial facilities. We intend to focus on our core strengths and expertise to expand our operations in existing markets and also into new markets. With a listing status now, we will not only explore opportunities in mergers and acquisitions, joint ventures and strategic alliances but have also set aside about 42 per cent of the IPO net proceeds to undertake property development in the commercial and industrial sectors.”
Lawrence Wong, Head of Listings at SGX, said, “We are heartened to witness yet another home-grown company leveraging on the Singapore stock market to expand its business. With its listing on SGX’s Catalist, Figtree offers investors an opportunity to participate in the logistics and industrial property development space. We look forward to supporting more of such companies as they grow and increase their presence in Singapore and the region.”
With an estimated market capitalisation of $61 million, Figtree Holdings brings the total number of listings of the Catalist board to 140 worth $8.6 billion.
