{"id":85062,"date":"2018-04-12T09:26:59","date_gmt":"2018-04-12T02:26:59","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-unit-gunning-for-catalist-listing\/"},"modified":"2018-04-12T10:02:58","modified_gmt":"2018-04-12T03:02:58","slug":"lian-beng-unit-gunning-for-catalist-listing","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-unit-gunning-for-catalist-listing\/","title":{"rendered":"Lian Beng unit gunning for Catalist listing"},"content":{"rendered":"


\nArtist\u2019s impression of KAP & KAP Residences, a mixed-use project by SLB Development.
\nSLB Development, a spin-off from mainboard-listed Lian Beng Group, is seeking to be listed on the Singapore Exchange\u2019s Catalist Board.
\nThe property developer is offering 238 million shares at $0.23 each, comprising 230 million shares by way of placement and eight million by way of public offer.
\nThe initial public offering (IPO) price would bring SLB\u2019s market capitalisation to $210 million. Lian Beng will retain a 73.93 percent stake in SLB following the invitation.
\nSLB expects the IPO to raise $51.4 million in net proceeds and $54.7 million in gross proceeds.
\nIn a statement, it revealed that 32.9 percent of the gross proceeds will be used to replenish the group\u2019s land bank and overseas expansion, while another 33.6 percent is earmarked for funding existing property development projects in the pipeline, as well as general working capital purposes.
\nThe company\u2019s portfolio comprises five residential and mixed-use projects such as Spottiswoode Suites and KAP & KAP Residences, three industrial developments including Mandai Foodlink and T-Space @ Tampines, and the Hexacube freehold commercial property.
\nIts pipeline of property development projects include three residential sites; Rio Casa, Serangoon Ville and Lorong 24 Geylang, and two industrial projects; 50 Lorong 21 Geylang and Khong Guan Industrial Building. SLB also owns a stake in a mixed-use project in China\u2019s Hebei province.
\nSLB noted that while it is focusing on the execution of its pipeline of property projects, the company will \u201ccontinue to work with its partners to seek and acquire well-located sites and buildings where it can utilise innovative designs and lifestyle themes to develop quality properties\u201d.
\n\u201cSLB will also explore suitable opportunities to undertake wholly-owned property development projects, and venture into hospitality developments,\u201d it added.
\nThe invitation will close at noon on 18 April, while trading of SLB shares will commence on 20 April.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Lian Beng unit gunning for Catalist listing<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of KAP & KAP Residences, a mixed-use project by SLB Development. SLB Development,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-85062","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-m7Y","jetpack-related-posts":[{"id":77318,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-to-ride-wave-of-housing-market-recovery\/","url_meta":{"origin":85062,"position":0},"title":"Lian Beng to ride wave of housing market recovery","date":"January 19, 2018","format":false,"excerpt":"\r Rio Casa, a 286-unit development has been sold collectively for $575 million to Oxley-Lian Beng Venture Pte Ltd. Singapore-listed construction company Lian Beng Group has positioned itself to take advantage of the recovering private housing market. According to a report published by CIMB Research on Thursday (18 January), the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68936,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-group-posts-47-5-revenue-drop\/","url_meta":{"origin":85062,"position":1},"title":"Lian Beng Group posts 47.5% revenue drop","date":"October 13, 2017","format":false,"excerpt":"\r Lian Beng Group\u2019s revenue slumped by 47.5 percent year-on-year to $37.18 million in the first quarter ended 31 August 2017 primarily because of lower contributions from its construction business, revealed an SGX filing on Thursday (12 October). Consequently, gross profits and its earnings for the period fell by 33.1\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74298,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-ksh-heeton-buy-geylang-properties-for-60mil\/","url_meta":{"origin":85062,"position":2},"title":"Lian Beng, KSH, Heeton buy Geylang properties for $60mil","date":"December 12, 2017","format":false,"excerpt":"\r Lian Beng Group Ltd, via its 42 percent-owned associated company Development 24 Pte. Ltd., has exercised an option to acquire the freehold properties known as 31 to 51 (ODD) Lorong 24 Geylang. KSH Holdings and Heeton Holdings also holds a 48 percent and 10 percent stake in Development 24.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76686,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/despite-lower-earnings-lian-beng-upbeat-on-property-outlook\/","url_meta":{"origin":85062,"position":3},"title":"Despite lower earnings, Lian Beng upbeat on property outlook","date":"January 15, 2018","format":false,"excerpt":"\r Singapore-listed Lian Beng Group\u2019s net profit declined by 33.7 percent year-on-year to $12.19 million during the first half ended 30 November 2017 (1H FY2018), revealed an SGX filing on Friday (12 January). Over the same period, the Grade A1 construction group\u2019s gross profit slumped 33.5 percent to $19.55 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66688,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-wins-contract-to-build-martin-modern-condo\/","url_meta":{"origin":85062,"position":4},"title":"Lian Beng wins contract to build Martin Modern condo","date":"September 18, 2017","format":false,"excerpt":"\r Artist\u2019s impression of the infinity pool at Martin Modern. A wholly-owned subsidiary of Lian Beng Group has secured a $162 million contract to construct Martin Modern, a 99-year leasehold project comprising two 30-storey condominium blocks with a total of 450 units at Robertson Quay. According to an SGX filing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73205,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-secures-136-8m-contract-to-build-9-condos\/","url_meta":{"origin":85062,"position":5},"title":"Lian Beng secures $136.8m contract to build 9 condos","date":"November 29, 2017","format":false,"excerpt":"\r Lian Beng Group has been awarded a $136.8 million contract via a tender to build nine resident blocks at Potong Pasir Avenue 1 in Toa Payoh, revealed an SGX filing on Tuesday, 28 November. In particular, there will be four blocks of 8-storey residential buildings, two 19-storey blocks and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/85062"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=85062"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/85062\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=85062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=85062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=85062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}