SINGAPORE: Secura Group, which has several high-profile shareholders, said on Wednesday (Jan 20) that it is listing shares on SGX's Catalist board to raise S$28 million to fund its expansion.
The Singapore-based security firm said it will sell 112 million shares at S$0.25 each in its initial public offering (IPO). Each share comes with two detachable warrants, which can each be converted to new Secura shares at an exercise price of S$0.35 cents in the next three years.
Secura will use the funds raised to expand its security and cyber security businesses, as well as to improve its corporate infrastructure and for working capital.
The company was formed via a merger of two groups – Secura, which offers security printing services, and Soverus, which provides security guards, cyber security and other security-related services.
Its shareholders include billionaire investor Mr Peter Lim, Mr Wee Ee Chao, who is Chairman of UOB-Kay Hian Holdings, and local property giant City Developments.
Secura's share offer closes on Jan 26 and trading of its shares is expected to commence on Jan 28.