Aedge Group announces IPO launch on Catalist

The sponsor for the listing is UOB Kay Hian.

Multi-services provider Aedge Group has launched its placement of approximately 16 million shares at $0.20 per share in conjunction with its proposed listing on the Catalist Board of the Singapore Exchange Securities Trading Limited.

The placement represents approximately 15.1% of the enlarged share capital of 106 million shares of Aedge, and the group’s market capitalisation will be around $21.2m post-placement.

Catalist caters to the needs of fast-growing enterprises seeking primary listings.

UOB Kay Hian will be the sponsor, issue manager, and placement agent for the listing.

According to the group, they plan to utilise their net proceeds of $1.68m to strengthen their core capabilities by investing in both hardware and software across all three business segments to drive business and revenue growth.

Aedge also intends to acquire additional scaffold components and structures to enhance its ability to secure more projects, to upgrade its sbus management systems for better tracking, and to develop and test new security solutions in line with market needs.

“We are optimistic that the many ongoing initiatives put in place by the Singapore Government to drive growth for the nation’s infrastructure and transport sector will augur well for us,” Executive Chairman Poh Soon Keng said.

The placement will close at noon on 10 December.