Laboratory group LMS Compliance to raise S$3.6 million in Catalist listing

LMS COMPLIANCE, a provider of testing and certification services, on Tuesday (Nov 22) launched its initial public offering (IPO) for a Catalist listing on the Singapore Exchange (SGX).

The Malaysia-based company is looking to raise gross proceeds of S$3.64 million through the sale of 14 million shares at S$0.26 apiece.

Net proceeds will amount to S$2.04 million. More than half these proceeds, or S$1.2 million, will be set aside for acquisitions, joint ventures and strategic alliances in countries such as Malaysia, Indonesia and China to grow the company’s business.