Singapore’s Prime Skyline Limited (PSE), a provider of building envelope services in Southeast Asia, has provided updated terms for a proposed $18M US initial public offering.
The company said in a filing that it is looking at offering 4.6M ordinary shares priced at $4 per share. Underwriters would be granted a 45-day option to buy up to 938K additional shares at the IPO price. ViewTrade is serving as lead bookrunner.
A selling stockholder plans to offer an additional 1.7M shares. Skyline would not receive any proceeds from that sale.
Incorporated in the Cayman Islands but based in Singapore, Prime Skyline operates through subsidiaries in Singapore, Sri Lanka, Myanmar, the Philippines and Brunei. The company offers building envelope solutions such as design, construction and maintenance services. For 2021, Prime Skyline reported a profit of $101K on revenue of $34M.
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