Sin Heng Heavy Machinery Limited, a heavy lifting service provider, has launched its IPO of 168 million invitation shares at 26 cents each.
The IPO comprises 9.6 million offer shares available to the public for subscription and/or purchase and 158.4 million placement shares.
The IPO is priced at a historical price earnings ratio of 4.4 times, based on the group’s net earnings per share of 5.91 cents for FY2009 and pre-invitation share capital of 371,640,000 shares.
