Sino Construction says IPO fully taken up despite weak market sentiment

Sino Construction has raised nearly S$60 million from its initial public offering (IPO).

The company said the IPO has been fully taken up, despite the current weak market sentiment. Guoco Group was among the major investors.

Sino Construction had offered about 153 million shares at 39 Singapore cents each. Of these, more than 6 million shares were set aside for the public.

Sino Construction plans to use part of the proceeds to establish a concrete mixing base as well as to buy machinery and equipment.

The shares start trading on June 12. – CNA /ls

Source : Channel NewsAsia – 11 Jun 2008

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