Huationg Global launches Catalist IPO

Singapore

SINGAPORE-based integrated civil engineering provider Huationg Global launched an initial public offering (IPO) for a Catalist listing on the Singapore Exchange on Monday.

Offering a total of 27.5 million placement shares at 20 cents each, representing approximately 18.2 per cent of the company's post-placement share capital, the IPO closes at noon on Friday. Trading is expected to commence on Dec 9.

The IPO is expected to raise approximately S$5.5 million in gross proceeds, including net proceeds of S$4.1 million; the company will use some S$1.5 million of the funds to e…