Crushed-limestone producer GCCP launches Catalist IPO
Singapore
MALAYSIA-BASED crushed-limestone producer GCCP Resources Limited launched its initial public offering (IPO) on Monday for a Catalist listing on Singapore Exchange (SGX).
CEO Alex Loo, who will hold a combined direct and deemed stake of close to 54 per cent post-placement, has committed to a moratorium of up to three years governing disposal of his holdings. He said: "I am quite confident in (GCCP's) product. There's a shortage in the market for limestone. Due to its extensive applications and the fact that demand is generally driven by necessity and not economic cycles, the price of calcium carbonate (limestone) has remained relatively stable over the years."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Starhill Global Reit posts 0.9% lower Q3 net property income of S$37.7 million
Binance and CZ’s fortunes are set to grow, jail or no jail
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global
Samsung says Q1 operating profits soar nearly tenfold on-year
Far East Hospitality Trust Q1 net property income rises 6% to S$25.1 million
Boeing gets a welcome respite with US$10 billion bond offering