IPO will fund storage capacity increases.
Listing under the stock code “5VC” on Catalist Board, Kori Holdings Limited and its subsidiaries are Singapore-based and principally engaged in providing civil/structural engineering and infrastructural construction services as a sub-contractor for commercial, industrial and public infrastructural construction projects.
The group has two main business segments, namely, structural steelworks services and tunnelling services.
“It is gratifying to know that our IPO has attracted strong interest from investors despite the uncertain global economy. With our established track record for technical expertise and strong project management, we intend to focus on our core strengths of increasing our presence and expanding in overseas markets through joint ventures or strategic alliances. With the IPO, we will use some of the net proceeds to source for a plot of land to build a new storage yard to increase our capacity to store more materials and better facilitate preparation of each of our projects,” said Mr Hooi Yu Koh, CEO and Managing Director of Kori Holdings Limited.
The listing of Kori Holdings brings the total number of companies listed on Catalist to 141 with total market capitalization of S$6.3 billion (US$5.2 billion).
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