DLF Holdings aims to raise $4.3 mil from Catalist IPO at 23 cents per share

SINGAPORE (July 17): Mechanical and electrical (M&E) engineering services provider DLF Holdings has registered its offer document with the Singapore Exchange (SGX) for its initial public offering (IPO) on the Catalist board.

DLF is expected to raise gross proceeds of $4.3 million in the IPO, which will see 18.5 million new shares up for grabs at 23 cents each. This will give DLF a market capitalisation of approximately $27.9 million.

The gross proceeds will mainly be used for general working capital purposes and to explore opportunities in mergers and acquisitions, joint ventures, and strategic alliances.

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