Singapore Exchange (SGX) today welcomed one more company, SLB Development Ltd, to its Catalist under the stock code “1J0”.
SLB Development Ltd is a property developer with 17 years’ experience in Singapore, covering a broad spectrum of projects from small to large-scale residential, mixed-use, industrial and commercial properties. Through a joint venture participation in the Gaobeidian Project in Hebei Province, the company expanded into the People’s Republic of China in 2014. The Group has plans to seek expansion opportunities in new markets within the Asia-Pacific, Western Europe and North America region.
SLB Development Ltd is a spin-off of Lian Beng Group Limited, one of Singapore’s major home-grown main contractors with integrated civil engineering and construction support service capabilities, listed on SGX Mainboard since 1999.
Matthew Ong, Executive Director and CEO of SLB Development Ltd., said:
The positive demand from both retail and institutional investors clearly shows the confidence in SLB’s business model and growth potential. This is just the beginning and with a view to pursuing opportunities in Singapore and abroad, we are excited to bring SLB to the next level of growth.
Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development, SGX, added:
We are delighted to welcome the listing of SLB Development Ltd on Catalist, a homegrown property developer with an established track record in developing quality and well-designed properties, and look forward to supporting the company as it expands internationally. SLB Development and Lian Beng recognise the distinct advantages Catalist and Mainboard bring, and we hope they will continue to tap on their respective listing platforms to grow their businesses.
With a market capitalisation of about S$210 million, the listing of SLB Development Ltd brings the total number of companies listed on Catalist to 203, with a combined market capitalisation of more than S$12 billion, and the number of real estate entities listed on SGX to 110, with combined market capitalisation of over S$187 billion.
SLB Development Ltd opened at S$0.26 today.