Tuesday, October 22, 2024
HomeFBS Global Ltd. to Raise $11M in IP

FBS Global Ltd. to Raise $11M in IP

FBS Global Ltd. (FBGL) is planning to raise $11 million in an initial public offering (IPO) on Friday, October 25th, IPO Scoop reports. The company will issue 2,300,000 shares at a price of $4.50-$5.00 per share. In the last twelve months, FBS Global Ltd. generated $16.1 million in revenue. FBS Global Ltd. has a market-cap [...]

FBS Global Ltd. made $16.1 million in revenue over the last year and has a market cap of $56 million.

WallachBeth Capital was the underwriter for their IPO.

FBS Global Ltd. began as Finebuild Systems Pte Ltd. in Singapore in 1996, evolving into a leading engineering company offering various construction services. Their work includes providing building materials, recycling waste, and interior design services in Singapore, boasting over 20 years of experience in institutional, residential, commercial, and industrial projects.

**Note:** Their revenue is for the year ending December 31, 2023.

FBS Global has revised its IPO plan, increasing shares offered to 2.25 million and raising the price range to $4.50 – $5.00, aiming to raise $10.69 million. WallachBeth Capital replaced Eddid Securities USA as the book-runner. They had postponed their IPO originally scheduled for April 2024 and have made multiple adjustments to their offering size and terms over the past year.

Founded in 1996, FBS Global has 80 employees. The company is based in Singapore at 74 Tagore Lane, #02-00 Sindo Industrial Estate, Singapore 787498. Contact them at +65 62857781 or visit FBSGlobal.com.sg.

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