Corporate digest

DLF Holdings

MECHANICAL and electrical engineering services firm DLF Holdings has successfully placed out 18.5 million new shares at S$0.23 per share, raising gross proceeds of about S$4.26 million for its initial public offering. Listing and trading of the company's shares on the Catalist board is expected to begin July 25. The net proceeds total around S$2.85 million, after subtracting listing expenses, it said. S$1 million will go to mergers and acquisitions, joint ventures and strategic alliances, while the rest will go towards working capital.

Citic Envirotech