Wong Fong Industries launches IPO on Catalist board
Placement of 43m shares at S$0.23 each to expand facilities, for acquisitions
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AS part of efforts to expand and diversify its business, Wong Fong Industries has launched its initial public offering (IPO) on the Catalist board.
Registering its prospectus on Tuesday, the homegrown land transportation engineering systems provider announced its offer of 43 million placement shares, priced at S$0.23 apiece, raising a total of S$8 million in net proceeds. With a total issued share capital of 235 million shares, Wong Fong is valued at about S$54.1 million.
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