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.)