sfk-construction-launches-155-million-ipo

SFK Construction launches $155 million IPO

The Hong Kong construction firm takes the chance to sell shares while infrastructure developments in Hong Kong and Macau move full steam ahead.

January 13, 2008

Hong Kong building construction and civil engineering contractor SFK Construction Holdings launches the institutional roadshow today for an initial public offering that aims to raise up to HK$1.21 billion $155 million. The company is trying to convince investors of its growing prospects, backed by a robust construction industry in Macau and Hong Kong.

SFK is planning to sell 242 million shares, or 27.5% of the enlarged share capital, of which 90.9% are new. The remaining 9.1% are sold by Springtime, which will see its shareholding drop to 72.5% of the constructor at the time of listing from 100% at present. Springtime is 71%-owned by Lo Kai Shui, deputy managing director of Hong Kong...

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