Singapore Exchange (SGX) today welcomed Mooreast Holdings Ltd. (Mooreast) to its Catalist under the stock code “1V3”.
With operations mainly in Singapore and a European sales office in Rotterdam, the Netherlands, Mooreast is a total mooring solutions specialist, serving the offshore oil and gas (O&G), marine and offshore renewable energy industries. With strong in-house capabilities in design, engineering and fabrication, it offers a full range of mooring solutions including the design, engineering, fabrication, supply, mobilisation and logistics, installation and commissioning services for mooring systems and mooring system components as well as the provision of rigging and heavy lifting equipment.
Sim Koon Lam, Executive Director, CEO and Deputy Chairman, Mooreast, said, “The Mooreast team is excited to begin life as a listed company. Our IPO will fund our expansion plans and business transformation towards the offshore renewable energy sector, and we will leverage our listed status to capture more opportunities within the sector. I would like to take the opportunity to thank SGX for their support, and we look forward to bringing long term value to shareholders.”
Mohamed Nasser Ismail, Global Head of Equity Capital Markets, SGX, said, “We are excited to welcome the listing of Mooreast. This listing is timely for the company as it pivots into the renewables sector, an area of growth as the world continues to tackle climate change. Through SGX’s listing platform, Mooreast will be able to tap on the opportunities in the rising global demand for renewable energy, floating offshore wind farms and floating solar photovoltaic farms.”
With a market capitalisation of around S$57 million, the listing of Mooreast brings the total number of companies listed on Catalist to 216, with a combined market capitalisation of about S$12.5 billion. Within the industrials sector, there are currently 170 companies listed on SGX with a total market capitalisation of around S$135 billion.
Mooreast opened at S$0.285 today.
