OKH Global Limited joins SGX Mainboard
Under the stock code “S3N”.
To explain OKH Global Limited's stock code, Singapore Exchange explained that Sinobest Technology Holdings Ltd acquired OKH Holdings Pte Ltd for S$123 million. As part of the exercise, Sinobest Technology was renamed OKH Global and 126.8 million OKH Global shares were placed out to new investors at S$0.24 a share, raising S$30.4 million.
OKH Global will use the net proceeds from the placement for general working capital.
OKH Global is primarily involved in property development and the provision of construction services and large-scale alteration and addition works in Singapore. Since its incorporation in 1998, OKH Global has been upgrading itself and is now certified for public sector projects of up to S$40 million, said the exchange. Some notable clients of OKH Global include Seatown Industrial Centre, SMRT and the Singapore Grand Prix.
Bon Ween Foong, Executive Chairman and CEO of OKH Global Limited, said: “With a transformed business model, the listing of OKH Global marks our new start as a fast-growing property developer in Singapore. More importantly, our listing on SGX Mainboard will serve as a catalytic driver for the Group to further improve our capabilities and deliver continued growth in the long term.”
Lawrence Wong, Head of Listings at SGX, said: “We congratulate OKH Global on its joining of our Mainboard. The vibrancy of its sector is well-recognized, and we are delighted to be a part of OKH Global’s next stage of growth.”