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SGX IPOs to see year end pick up with Sheffield Green, Winking Studios lodging prospectuses

The Edge Singapore
·2-min read

Additional new listings besides these two are expected soon

New listing activity in Singapore is seemingly picking up after a near-year-long drought, with two companies filing their preliminary prospectuses for their respective Catalist listings.

Sheffield Green, whose listing is managed by Evolve Capital, provides workers for the engineering industries, has filed on Sept 28.

The company, led and controlled by chairman and executive director Kee Boo Chye, reported earnings of US$2.46 million for FY2023 ended March, versus a loss of US$975,000 incurred in the preceding FY2022.

Revenue in the same period increased from US$4.7 million to US$19 million.

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Sheffield Green's business is to provide manpower ranging from technical personnel and offshore crew.

The clients span from the onshore wind, offshore wind, solar and green hydrogen industry segments.

With funds to be raised from the planned listing, Sheffield Green plans to further grow its business in new markets. It is exploring acquisitions as well.

Separately, Winking Studios, which helps create art used in games and develop games, has also filed its preliminary prospectus on the same day. This proposed issue is managed by PrimePartners Corporate Finance and will not have a public tranche.

The company, with operations largely in China and Taiwan, says it is one of the largest game art-sourcing studios in Asia and the world.

Winking Studios is led by executive chairman and CEO Johnny Jan.

Between FY2021 and FY2022, the company's revenue increased from US$23.7 million to US$24.5 million. However, earnings dropped from US$3.1 million to US$1 million because of lower margins.

Additional new listings besides these two are expected soon. Earlier this month, Advanced MedTech, a medical equipment company chaired by former Singapore Economic Development Board (EDB) chairman Philip Yeo, is reportedly planning an SGX listing to raise up to US$300 million, which will give it a valuation of around US$1 billion.

 

 

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