Tiger Brokers

Market Chatter: Deluge Corp. Aims to Raise Around SG$23 million from Singapore Listing

MT Newswires
Oct 06

Fire-protection specialist Deluge Corporation aims to raise around SG$23.4 million from its upcoming initial public offering for a mainboard listing in Singapore at SG$0.60 a share, a Business Times report said on Tuesday, citing group chief executive officer Lee Wai Wah.

The offer price values the company at SG$87 million, on the basis of enlarged share capital of 145 million shares, the report said.

Deluge's shares are scheduled to start trading on Oct 16.

As per the report, the proposed IPO includes 15.6 million new shares, comprising 14.8 million placement shares and 800,000 public offer shares.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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