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Johor-based 5E Resources to raise S$10m in Catalist listing

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Yong Jun Yuan

Yong Jun Yuan

Published Fri, Apr 29, 2022 · 08:16 PM
    • 5E Resources currently operates 3 waste treatment plants in Johor.
    • 5E Resources currently operates 3 waste treatment plants in Johor. 5E Resources

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    5E Resources, a waste management services provider in Malaysia, is seeking to raise S$10 million in an initial public offering (IPO) on the Catalist board of the Singapore Exchange.

    The company is looking to sell 38.5 million shares at S$0.26 apiece, comprising 2 million offer shares and 36.5 million placement shares.

    The sale shares will represent 26.1 per cent of 5E Resources’ enlarged share capital of 147.5 million shares. The company will have a theoretical market capitalisation of S$38.3 million, 14.7 times its earnings of RM8 million (S$2.6 million) in FY2020. 

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