FBS Global, which provides interior design and fit-out services in Singapore, revised the terms for its upcoming IPO on Tuesday. In its latest filing, the company also disclosed financials for the year ended December 31, 2022.
The Singapore-based company now plans to raise $15 million by offering 3.8 million shares (27% secondary) at $4. The company had previously filed to offer 3.8 million shares (100% primary) at the same price. At the revised terms, FBS Global will raise the same amount of proceeds as previously anticipated.
FBS Global states that it is an established interior design and fit-out specialist in Singapore. Its scope of services includes design, supply, and installation of ceilings, partitions, timber deck, carpet, lead lining, acoustic wall panel, built-in furnishing, carpentry, and mechanical and electrical services. The company also undertakes main construction and building works projects.
FBS Global was founded in 1996 and booked $12 million in revenue for the 12 months ended December 31, 2022. It plans to list on the Nasdaq under the symbol FBGL. Pacific Century Securities is the sole bookrunner on the deal.
