Deluge Corporation Limited, Singapore’s leading fire detection and protection company, has announced its initial public offering (IPO) on the Singapore Exchange (SGX) Main Board, aiming to raise S$23.4m in gross proceeds. The offering comprises 15,600,000 shares priced at S$0.60 each, with 14,800,000 allocated as Placement Shares and 800,000 as Public Offer Shares. The public offer opened on 6 October and will close on 14 October, with trading expected to commence on 16 October.
The company, which holds the highest “L6” ME06 workhead registration from the Building and Construction Authority of Singapore, plans to use the net proceeds of approximately S$20.13m for infrastructure investments, strategic partnerships, acquisitions, and business expansion. Deluge’s market capitalisation is estimated at S$87m following the IPO.
Cornerstone commitments account for S$14.04m, or 60% of the total gross proceeds, with notable investors including Amova Asset Management Asia Limited and Avanda Investment Management Pte. Ltd. SAC Capital Private Limited and Maybank Securities Pte. Ltd. are managing the issue.
Deluge’s comprehensive fire protection services span design, installation, and maintenance, serving sectors such as healthcare, aviation, and technology. The company aims to leverage its IPO to enhance its operational capabilities and expand regionally.
