Attika (SGX:53W) utilized over SG$1.3 million from the proceeds raised from its initial public offering for general working capital and property business, according to a Friday filing with the Singapore Exchange.

Shares of the commercial interior decoration and mechanical, electrical and plumbing engineering company were down over 5% in Monday afternoon trading.

The remaining balance of proceeds following the recent utilization now stands at SG$884,000, the filing said.