SINGAPORE, May 5 (AFP) - Singapore-based furniture maker Lorenzo International Ltd plans to increase the net result of S $ 3.5 million ($ 2.2 million) in an initial public offering.
Company, which will sell 25 million new shares at S $ 0.22 each, said the intention to use the results primarily to build new production plant in China. Based on the bid price, Lorenzo will have a market value of S $ 22 million.
Bids will close on May 9 and is expected to begin trading on 11 May UOB Asia Ltd is the manager, underwriter and placement agent for the offering. ($ 1 = 1.576 Singapore Dollar)
Company, which will sell 25 million new shares at S $ 0.22 each, said the intention to use the results primarily to build new production plant in China. Based on the bid price, Lorenzo will have a market value of S $ 22 million.
Bids will close on May 9 and is expected to begin trading on 11 May UOB Asia Ltd is the manager, underwriter and placement agent for the offering. ($ 1 = 1.576 Singapore Dollar)
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