SINGAPORE (July 19): Land transport engineering solutions and systems provider Wong Fong Industries has launched an initial public offering (IPO) of 43 million new shares on the Catalist board of Singapore Exchange (SGX).

Each new share is priced at 23 cents, according to a press release on Tuesday.

Based on the issue price and the total issued share capital of 235 million shares, the market capitalisation of Wong Fong Industries will be approximately $54.1 million.

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