OTS Holdings debuts on SGX Catalist

The company behind Golden Bridge luncheon meat launched a successful initial public offering.

Food manufacturing firm OTS Holdings is now amongst the listed companies under the Singapore Exchange (SGX) Catalist following the launch of its initial public offering.

The Company earlier reported that it estimated its net proceeds at approximately $6.56m, of which $2m will fund the expansion of their production.

“This IPO listing is an important milestone for OTS Holdings, accelerating our growth strategy that involves greater regional presence and diversification through new products such as plant-based food products,” Ong Bee Chip, Managing Director, OTS Holdings Limited, said.

The company also planned to earmark some $2.5m for its overseas expansion, particularly in the Philippines; whilst around $2m more will be for developing new products and general working capital purposes.

OTS Holdings, established in 1993, produces ready-to-eat and ready-to-cook, meat products, catering to the Singapore and Malaysian market. It has a market capitalisation of $49m.

This brings the combined market capitalisation of companies under SGX Catalist to $13b. In the consumer sector alone, the market capitalisation of 137 companies stood at $76b.