China's Hengxin Seeks Singapore Listing
China-based Hengxin Technology Ltd, which makes cables used in telecommunications equipment, plans to raise S$18.5 million ($11.77 million) in an initial public offering.
The company said it plans to sell 84 million new shares at S$0.25 each, and use the proceeds to expand its manufacturing facilities and sales network.
Hengxin, which makes radio frequency coaxial cables used in mobile communications, said its customers include Huawei Technologies Co. [HWT.UL] and China United Telecommunications Corp. .
The share offer will close on May 9 and trading is expected to start on May 11. UOB Kay Hian is the underwriter and placement agent, while Genesis Capital Pte Ltd is the issue manager for the share offer.