<article>Space resource optimisation company<a href="http://www.lhngroup.com.sg/"> LHN Limited</a> is set to list on the <a href="http://www.sgx.com/wps/portal/sgxweb/home/!ut/p/a1/04_Sj9CPykssy0xPLMnMz0vMAfGjzOKNHB1NPAycDSz9wwzMDTxD_Z2Cg8PCDANdjYEKIoEKDHAARwNC-sP1o8BK8JhQkBthkO6oqAgAzDYPQQ!!/dl5/d5/L2dBISEvZ0FBIS9nQSEh/">Singapore Exchange</a> (SGX) this month marking the first initial public offering (IPO) in calendar year 2015.</article>

Space resource optimisation company<a href="http://www.lhngroup.com.sg/"> LHN Limited</a> is set to list on the <a href="http://www.sgx.com/wps/portal/sgxweb/home/!ut/p/a1/04_Sj9CPykssy0xPLMnMz0vMAfGjzOKNHB1NPAycDSz9wwzMDTxD_Z2Cg8PCDANdjYEKIoEKDHAARwNC-sP1o8BK8JhQkBthkO6oqAgAzDYPQQ!!/dl5/d5/L2dBISEvZ0FBIS9nQSEh/">Singapore Exchange</a> (SGX) this month marking the first initial public offering (IPO) in calendar year 2015.
LHN, whose business involves taking unused and under-utilised industrial, commercial and residential spaces, and transforming them into leasable space, aims to raise around $14.4 million by selling 73.9 million shares, equivalent to about 20.4 per cent of its enlarged share capital of 365.1 million shares &#8211; at S$0.23 apiece.
At this price point, LHN’s shares are being sold at an earnings multiple of 6.5 times of its historical net earnings per share of 3.53 cents for the financial year ended Sept 30, 2014.
The company will use the proceeds to expand its space optimisation and logistics services across the ASEAN region.
LHN also said it plans to pay dividends of at least 20 per cent of its net profit attributable to shareholders for FY15 and FY16.
This marks the first time since 2000 that SGX has not witnessed an initial public offering in the first three months of the calendar year.
The placement will close at 12.00 noon on April 9, 2015 and trading is slated to begin from the following day. The sponsor, issue manager and placement agent for the IPO is PrimePartners Corporate Finance while UOB Kay Hian is the sub-placement agent.
LHN had sales of S$75.1 million in FY2012 and S$90.7 million in FY2014 and a S$7.0 million to about S$12.7 respectively during the same period.
The company manages spaces aggregated at around 4.0 million square feet, and as part of its business it also provides professional car park management services
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LHN Limited is set to list on the Singapore Exchange (SGX) this month marking the first initial public offering (IPO) in calendar year 2015.

LHN to raise S$14.4m in Singapore’s first IPO of 2015

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LHN to raise S$14.4m in Singapore’s first IPO of 2015

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