Soon Hock Enterprise, a specialised industrial real estate developer, has announced its initial public offering (IPO) on the Singapore Exchange Mainboard, aiming to raise approximately $25.3m (S$34.6m). The offering includes 21.6 million shares priced at $0.42 (S$0.58) each, with trading set to commence on 16 October 2025.
The IPO comprises 18.8 million placement shares and 2.8 million public offer shares. Additionally, cornerstone investors, including Amova Asset Management Asia Limited and Maybank Asset Management Singapore, have committed to subscribing to new shares valued at $26.1m (S$35.6m), bringing the total deal size to approximately $35.3m (S$48.1m).
Soon Hock Enterprise, known for its expertise in industrial property development in Singapore, plans to use the proceeds to capitalise on the country’s growing demand for modern industrial spaces. The company has a strong track record, having developed over 1,200 units of strata-titled industrial properties and completed projects with a gross development value exceeding $731.5m (S$1b).
The company, led by Executive Chairman Tan Yeow Khoon and CEO Tan Min Loon, aims to expand its portfolio by pursuing new tenders and exploring residential property development. The IPO is managed by Maybank Securities and United Overseas Bank, serving as joint issue managers and bookrunners.
With a market capitalisation expected to reach $131.7m (S$180.1m) post-IPO, Soon Hock Enterprise is poised to strengthen its position in Singapore’s industrial real estate market.
