SGX welcomes LHN Group as first IPO of 2015

The company’s net earnings have almost doubled over the last two years.

The real estate players of SGX are gaining a new friend.

According to a report by the bourse, homegrown company LHN Group will be SGX’s first initial public offer of 2015.

Most of the LHN Group’s revenue comes from its space design business, which involves the design, refurbishment, leasing and management of properties.

The company also offers facilities management, which includes building maintenance, security services, cleaning, landscaping, pest control services and car park management service. It also has a logistics services business.

LHN is a real estate management services group with ability to generate value for landlords and
tenants through its expertise in space optimisation. It has a profitable track record: net earnings have
grown steadily from S$7 million in FY2012 to S$12.7 million in FY2014, a compound annual growth rate of 34.7 per cent. LHN's Catalist listing is done entirely through a private placement exercise with no public tranche. It plans to issue 73.9 million new shares at S$0.23 each to raise gross proceeds of S$17 million for business expansion.