SINGAPORE (Jan 21): Grand Venture Technology (GVT), which builds precision parts for machines and instruments, is set to be the first company to launch its IPO on the Singapore Exchange this year.
Brushing aside wobbly market conditions, the company is pushing ahead with growth plans that require fresh capital from an IPO. Ricky Lee, executive chairman of GVT, says the company’s growth cannot wait for “ideal” market conditions.
“These are exciting times for GVT. We have overcome the industry’s high entry barriers — in terms of capability building, capital investments and the long gestation period and stringent prequalification criteria with customers — to arrive at this milestone today,” says Lee in an interview with The Edge Singapore.