Fire protection specialist Deluge Corp files preliminary prospectus for mainboard IPO
The company’s order book stands at S$433 million as at Sep 16
Fire protection firm Deluge Corp has submitted a preliminary prospectus to the Singapore Exchange (SGX) for a mainboard listing. The offering will include institutional and other investor placements, with a public offering in Singapore. A total of 23.4 million cornerstone shares will be issued to selected investors, including Amova Asset Management Asia, Avanda Investment Management, HB Equity Partners, and Whitefield Capital Management, along with individual investors.
The funds raised will be utilized for infrastructure, facilities, operational enhancements, strategic partnerships, acquisitions, joint ventures, regional expansion, and business growth through tenders and larger contracts. At least 25% of the net profit, excluding non-recurring items, will be allocated to dividends for FY2027 and FY2028.
Established in 1983, Deluge has completed over S$1 billion worth of projects for Singapore's critical infrastructure sectors, including transport, healthcare, aviation, commercial and residential buildings, data centers, and offshore and marine. With over S$433 million in the order book as of Sep 16, the company anticipates fulfillment within the next four financial years.
Net profit declined 16.5% in FY2026, reaching S$11.8 million, while gross profit margin improved to 33.2% from 30.4%. SAC Capital will manage the issuance, with Maybank Securities and SAC Capital serving as joint bookrunners and underwriters.
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