EGP Energy launches S$30.6M SGX mainboard IPO at S$115M valuation
What's the deal? Singapore's EGP Energy Corporation launched its initial public offering on July 21, seeking to raise about S$30.6 million ($23.7 million) ahead of a planned listing on the Singapore ExchangeDealroom has a profile for this one. Try Dealroom → (SGX) mainboard. The offering, priced at S$0.51 per share, values the electrical infrastructure provider at roughly S$115 million.
How it's structured: The IPO comprises 18,823,500 shares, with 17,823,500 offered through an international placement and 1,000,000 to the public in Singapore. Five cornerstone investors — Amova Asset ManagementDealroom has a profile for this one. Try Dealroom → Asia, Avanda Investment ManagementDealroom has a profile for this one. Try Dealroom →, Ginko-AGT Global Growth Fund, Value Partners Hong Kong, and Whitefield Capital Management — agreed to subscribe for an aggregate 41,176,500 new shares, raising about S$21 million.
Why now? The launch comes roughly three weeks after EGP Energy lodged its preliminary prospectus in late June 2026. Executive chairman and chief executive officer Frankie Fan described the listing as a "natural next step" for the group.
What's the endgame? EGP Energy plans to use net proceeds of about S$27.4 million to expand its product offerings and customer base, invest in digitalisation and predictive maintenance, and support expansion into Malaysia and Indonesia.
The business: Operating since 1992, EGP Energy provides engineering, procurement, and construction management services for transmission and distribution projects in Singapore. An independent market report estimated the group held a 24.9% share of Singapore's extra-high-voltage and high-voltage transmission and distribution market.
The signal: EGP Energy is set to become the fourth company to list on the SGX mainboard in 2026, following Foundation HealthcareDealroom has a profile for this one. Try Dealroom →, JustCo, and UI Boustead Reit. The debut adds to renewed listing activity on an exchange working to revive its equity market. Trading is expected to commence on July 29.
Read more: The Business Times
Image credit: Phil Roeder
