The company expects to issue its IPO shares at 25 cents each, raising some $6.0 million in gross proceeds. According to the company, the proceeds will be used to expand its business coverage and geographical presence in locations “where there are significant renewable energy-related activities”. It also intends to use the monies to expand into complementary offerings, new product lines and other technical services. Finally, the amount will also go towards general working capital and its listing expenses.
After completing its registration to list on the Catalist board of the Singapore Exchange (SGX:S68
) Securities Trading Limited (SGX-ST), Sheffield Green will be offering 24.0 million shares for its initial public offering (IPO).
Of that, 20.4 million shares are for placement while the remaining 3.6 million are for the public offering.
