Automotive group Vin’s Holdings aims for greater gains in used-car space with IPO
It seeks to further its ‘robust growth’ from 2021 to 2023 by investing listing proceeds in IT infrastructure and expansion
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[SINGAPORE] Buoyed by success in the pre-owned car market, Vin’s Holdings (VH) has sought an initial public offering (IPO) to fuel the next stage of its development with investments in IT and infrastructure.
The Singaporean automotive group is expected to list on the Singapore Exchange (SGX) Catalist board on Apr 15 – the first IPO for SGX since November 2024 – with net proceeds of S$4 million after expenses, through the issue of 20 million placement shares at S$0.30 apiece.
Galvin Khong, VH’s executive director and chief executive officer, said that the group aims to use the proceeds of the listing to grow its automotive business organically. He added that it is also working on its own enterprise resource planning (ERP) system that will integrate artificial intelligence.
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