Multi-services provider Aedge launches IPO with 16 mil shares at 20 cents each

Felicia Tan
Felicia Tan12/3/2020 05:30 PM GMT+08  • 2 min read
Multi-services provider Aedge launches IPO with 16 mil shares at 20 cents each
The group’s total revenue and profit for the FY2020 stood at $23.7 million and $0.4 million respectively.
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Aedge Group, the provider of several services including engineering, transport, security and manpower, has launched its placement of some 16 million shares at 20 cents per share in conjunction with its listing on the Catalist board of the Singapore Exchange Securities Trading Limited (SGX-ST).

The placement represents some 15.1% of the enlarged share capital of 106 million shares in the group.

Post-placement, Aedge’s market capitalisation will stand at around $21.2 million.

The placement will close at 12pm on Dec 10.

The listing and trading of Aedge’s shares will commence at 9am on Dec 14.

UOB Kay Hian is the sponsor, issue manager and placement agent for the listing.

The group says it intends to use its net proceeds of $1.68 million to invest in hardware and software across all three of its business segments to drive growth for its business and revenue.

The group adds that it plans to acquire additional scaffolds components and structures to enhance its ability to score more projects.

The group will also be upgrading its bus management systems to better manage and track demand levels.

The group’s total revenue and profit for the FY2020 stood at $23.7 million and $0.4 million respectively.

The lower numbers, compared to FY2019’s $24.5 million revenue and $1.3 million profit, was mainly due to the impact of Covid-19.

The group’s order book stood at $11.7 million.

“With a history of more than two decades, our Group has been through many ups and downs and what we have learnt is that there are always opportunities in every situation. We are optimistic that the many ongoing initiatives put in place by the Singapore Government to drive growth for the nation’s infrastructure and transport sector will augur well for us,” says Poh Soon Keng, Aedge’s CEO and executive chairman.

“As a Group that is diversified both in our business as well as in our customer base, we believe that we are well-positioned to weather all challenges and capture any prospects that may come our way,” he adds.

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