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Singapore Exchange (SGX) today welcomed Huationg Global Limited to Catalist, under the stock code of “41B”.
Huationg Global is a full-serviced integrated civil engineering solutions provider, with an established track record of more than 30 years. It is mainly engaged in the provision of civil engineering services for infrastructure projects, inland logistics support and the sale of construction materials.
Huationg Global offered 27.5 million shares at S$0.20 a share. Proceeds raised from the offer will be used to expand its business and for general working capital purposes.
Shares in Huationg Global opened at S$0.24 today, up 20%.
Patrick Ng, Chief Executive Officer, Huationg Global, said, “We are happy with the positive response from investors during our IPO, which we believe underscores Huationg Global’s strong business fundamentals and future growth potential. This listing will go a long way toward enhancing our public image, which we believe will put us in an even stronger position to capture new business as well as to drive our expansion plans in Singapore and overseas markets.”
Mohamed Nasser Ismail, Head of SME Development & Listings, SGX, said, “We are pleased to welcome another home-grown company, Huationg Global, to SGX. With its track record of completing projects on time and delivering quality civil engineering works, Huationg Global is well placed to ride the steady growth in the construction sector. We look forward to partnering the company in its growth ambitions.”
The listing of Huationg Global brings the total number of SGX-listed companies on Catalist to 156, with a combined market capitalisation of S$11.2 billion.
