Sanli Environmental launches offering with Vanda 1 as pre-IPO investor

Singapore

BIDDING for bigger contracts and tapping into overseas markets are on the cards for Sanli Environmental Limited, which on Tuesday announced the launch of its initial public offering (IPO) on the Singapore Exchange's Catalist board.

The environmental engineering company is offering 52 million new shares at an issue price of 22.5 Singapore cents each, of which 2.5 million shares are up for public offer while the remaining 49.5 million shares are placement shares. Of the 49.5 million placement shares, 4.5 million are reserved shares for subscription by Sanli's directors, employees and business associates who have contributed to the success of the group.