Latest News Update About Mun Siong Ipo: Mun Siong Engineering, an integrated engineering provider for the process industries, plans to raise about S$21.4 million through an initial public offering in Singapore. Mun Siong is offering 107 million new shares priced at 20 cents each.
Some two million shares have been set aside for the public, while 105 million shares will be placed out.
The company said it plans to use part of the proceeds to establish a regional presence in markets such as India, Malaysia and Vietnam, from which it has received enquiries.
It added that it signed an agreement with two other Singapore companies in July to form a consortium to bid for upcoming oil and gas projects in Vietnam.
The public offer will open on October 18 and close at noon on October 20.
Listing and trading of Mun Siong’s shares are expected to start two days later. – CNA/ms
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