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SINGAPORE: China Hu An Cable Holdings has applied to list on the Singapore Exchange Securities Trading Mainboard.
The China-based integrated wire and cable manufacturer lodged its preliminary prospectus with the Monetary Authority of Singapore on Thursday.
In the document, the firm said it intends to channel S$28 million of the net proceeds from the listing and/or bank borrowings to the construction of new workshops, production lines and acquisition of new production machinery.
These expansion plans are expected to commence six months after listing.
Another S$1 million from the net proceeds will be used to strengthen its research and development capabilities in order to broaden its product range.
China Hu An Cable said its order book stands at about RMB173 million of unfulfilled secured contracts, which it expects to deliver in the next six months.
- CNA/sc
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