FBS Global, which provides interior design and fit-out services in Singapore, raised the proposed deal size for its upcoming IPO on Tuesday.
The Singapore-based company now plans to raise $11 million by offering 2.3 million shares at a price range of $4.50 to $5. The company had most recently filed to offer 1.9 million shares at a range of $4 to $5. At the midpoint of the revised range, FBS Global will raise 27% more in proceeds than previously anticipated and command a market value of $64 million.
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 $13 million in revenue for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol FBGL. WallachBeth Capital is the sole bookrunner on the deal.
