SLB Development

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Diversified property developer, SLB Development Ltd. Launched IPO
SLB is spun-off from SGX-ST Main Board-listed Lian Beng Group Ltd which has extensive experience and an established track record in the property development industry over the last 17 years.

Highlights :
* 238,000,000 New Shares at S$0.23 each – 8,000,000 Offer Shares by way of public offer, and 230,000,000 Placement Shares by way of placement
* Diversified portfolio across residential, mixed-use, industrial and commercial property sectors in Singapore and the PRC
* Strong heritage – spin-off of property development business segment from Lian Beng Group1
* Five Singapore pipeline property development projects and Gaobeidian Project in the PRC to be launched for sale in 2H2018
* Gross Development Value of S$892 million and estimated development profits of S$136 million from property development projects2
* Source for opportunities to expand overseas, particularly in Asia-Pacific, Western Europe and North America regions
* Its portfolio comprises five residential and mixed-use property developments, namely Spottiswoode Suites, KAP & KAP Residences, Floravista, Floraview and Floraville, NEWest, The Midtown & Midtown Residences; three industrial property developments, namely Eco-Tech @ Sunview, Mandai Foodlink, and T-Space @Tampines which is slated to achieve completion in FY2019; and a freehold commercial property development in Singapore, namely Hexacube.

More details in :
1. http://infopub.sgx.com/FileOpen/Registra...eID=498589
2. http://infopub.sgx.com/FileOpen/PressRel...eID=498590

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Diversified Property Developer, SLB Development Ltd., Receives Strong Demand for IPO

Highlights :
1. 238,000,000 New Shares at S$0.23 each – overall 1.7 times subscribed
2. 230,000,000 Placement Shares by way of placement and 8,000,000 Offer Shares by way of public offer
3. Commencement of trading of shares is expected to be at 9.00 a.m. on April 20, 2018

At the close of the Application List at 12.00 noon on April 18, 2018, there were 2,216 valid applications for the 8,000,000 Offer Shares available to the public for subscription. These applicants applied for an aggregate of 164,840,000 Offer Shares, with application monies received amounting to approximately S$37.9 million, resulting in the public tranche being approximately 20.6 times subscribed.

All of the 230,000,000 Placement Shares available for subscription by way of placement were validly subscribed, with application monies received amounting to a total value of approximately S$52.9 million.

More details in http://infopub.sgx.com/FileOpen/PressRel...eID=499942

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Acquisiton of Pei-Fu Industrial Building in the Ordinary Course of Business

SLB Development Ltd. announced that the Company’s 51% indirectly owned subsidiary, Oxley Kyanite Pte. Ltd., has on 24 April 2018 exercised an option to purchase all the units in the development known as “Pei-Fu Industrial Building” at 24 New Industrial Road, Singapore 536210 from the respective owners of the said units.

The total purchase price of the Property is S$76.25 million

The Property is a freehold industrial property with a land area of approximately 5,792.1 square metres. The Group intends to redevelop the Property, subject to obtaining all the necessary approvals from the relevant authorities.

More details in http://infopub.sgx.com/FileOpen/180424_A...eID=500538