Of the net proceeds raised of $4 million, the company says that it will use about $3.2 million for enhancement of IT and services, and the expansion of showrooms, workshops and after-sales services.
All of Vin’s Holdings’ 20 million placement shares have been fully subscribed, and the company is set to commence trading on the Singapore Exchange (SGX:S68
) (SGX) on Apr 15.
The car dealer priced its placement shares at 30 cents per share and raised a total of $6 million at the close of application list on April 11. This makes Vin’s Holdings the first IPO on the SGX Catalist of 2025.
