Springview Holdings, which designs and constructs residential and commercial buildings in Singapore, raised $6 million by offering 1.5 million shares at $4, the low end of the range of $4 to $5. The company originally filed in April to offer 2 million shares at the same range before revising its share offering down in August to 1.3 million. At pricing, Springview commands a market cap of $86 million.
Springview's projects cover four main types of work: new construction, which entails demolition of an existing house for a new build; reconstruction, which involves replacement of a substantial part of a house; additions and alterations, in which it focuses on minor modifications to existing structures within an existing building's requirements; and other general contracting services, such as renovation and design consultation.
Springview Holdings plans to list on the Nasdaq under the symbol SPHL. AC Sunshine Securities acted as sole bookrunner on the deal.
