JUL 14, 20155:19 PM
Oil & gas engineering solutions provider NauticAWT on Tuesday launched its initial public offering (IPO) on the Singapore Exchange’s (SGX) Catalist board.
The company plans to use the expected net proceeds of approximately S$2.8 million from the IPO to fund its investment in capital expenditure to further strengthen its contracting services.
Funds raised from the IPO will also be used to expand the group’s business scope through investments, acquisitions and joint ventures, as well as for working capital purposes, it said in a statement on Tuesday.
The invitation comprises 28 million invitation shares, including one million public offer shares and 27 million placement shares.