TA Corporation Ltd has lodged its preliminary initial public offering (IPO) with the Singapore Exchange, with China Construction Bank (CCB-Singapore) and United Overseas Bank Ltd (UOB) as underwriters.
The construction and real estate development company submitted the IPO prospectus on 22 September in a bid to become the eighth main board listing for 2011, alongside Dyna-Mac Holdings, Mapletree Commercial Trust, Hutchison Port Holdings Trust, Perennial China Retail Trust, Sheng Siong Group, UE E&C and XMH Holdings.
Its initial line of business started in 1972, when it was a local contractor for the Urban Redevelopment Authority (URA) and the Housing Development Board (HDB). The group’s construction line was then undertaken by Tiong Aik Construction. In 1995, the group ventured into the real estate development segment with New World Centre, Parc Seabreeze, Starlight Suites and Leonie Hill Residences as its flagship projects.
For the previous financial year ending 31 December 2010, its profit stood at S$30.1 million, up from S$6.89 for FY2009.
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