Electrical infrastructure solutions and service provider EGP Energy Corporation Limited has lodged its preliminary initial public offering (IPO) prospectus for a listing on the Mainboard of the Singapore Exchange (SGX).
The company is an established key electrical infrastructure solutions and service provider for transmission and distribution (T&D) projects in Singapore, with expertise in extra high voltage (EHV) and high voltage (HV) power transmission and medium voltage (MV) distribution network projects.
At the same time, EGP Energy states that it specialises in providing engineering, procurement and construction (EPC) management for the T&D projects, which includes project design, supplying, installing, positioning, consultations, project management and maintenance and servicing for T&D assets.
For FY2023, FY2024 and FY2025 ended December, EGP Energy’s revenue was at $16.3 million, $37.9 million and $38.9 million respectively while profit after tax stood at $4.1 million, $8.5 million and $10.3 million respectively.
In terms of revenue contribution, EGP Energy states that its key utility customer has accounted for around 37.2%, 47.1% and 80.5% of its FY2023, FY2024 and FY2025 revenue.
As at May 31, EGP Energy’s order book associated with its key utility customer amounted to around $239 million and the company states that revenue generated from projects awarded by its key utility customers may continue to represent a significant proportion of its future revenue.
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On the dividend front, the directors of EGP Energy intend to recommend a dividend payout ratio of up to 40% of its net profit after tax for FY2026 and FY2027.
Meanwhile, Ho Sing, who recently resigned as Starhill Global REIT's CEO, was appointed as one of the independent directors at EGP Energy on June 29.
