Lian Beng spin-off offering 238m shares at S$0.23 apiece for Catalist listing

Singapore

SLB Development, a property development spin-off from mainboard-listed construction company Lian Beng Group, turned in the paperwork for a Catalist listing on April 11.

It is offering 238 million shares at S$0.23 each, comprising eight million shares by way of public offer, and 230 million placement shares. This pegs the gross proceeds at S$54.7 million.

Market capitalisation at the time of the initial public offering (IPO) will be S$210…