Foodstuffs manufacturer Leong Guan Holdings has joined the growing list of companies listing on the Singapore Exchange this year.
The company has lodged its draft prospectus on Sept 30, one day after Hong Kong-based adhesive maker Infinity Development Holdings and co-living operator Coliwoo Holdings did, and two days after industrial property Soon Hock Enterprise.
Excluding secondary listings, there are already seven IPOs on the SGX this year, which will make a total of 11 if these four others go ahead.
Led by executive director and chairman Lim Tze Chiang and managing director Lim Hock Chai, Leong Guan describes itself as having more than two decades of experience in this industry.
It specialises in the manufacturing of fresh noodle products and soy bean-based beancurd products. It offers a range of ready-to-eat meals as well.
Leong Guan says it has a customer base of more than 2,000, ranging from hotels to restaurants to hawkers to supermarkets.
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The company sells online via Foodpanda, Shopee, FairPrice Online and Grab, and also its own e-commerce platform, The Picky Grocer.
For the most recent 3MFY2025, revenue reached $9.4 million, up from $9.13 million in the year earlier.
For the most recent full year FY2024, revenue was $37.5 million, up from $33.78 million generated in FY2023.
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Profit for FY2024 was $1.74 million, up from $1.17 million.
Besides selling via its own "LG" brand, Leong Guan manufactures on behalf of other brands as well.
The company plans to increase its overseas markets and further diversify its product range, such as the ready-to-eat meals and other snacks which Leong Guan says may fetch better margins.
"Beyond organic growth, we are exploring expansion avenues to accelerate growth through suitable acquisitions, joint ventures and strategic alliances that bring accretive values, to create synergistic opportunities with our group’s existing businesses," the company indicates in its product highlights sheet for the preliminary offer.
Leong Guan does not have a fixed dividend policy for now but it plans to distribute dividends of a minimum of 80% of its net profit for the financial year ending Dec 2025, and at least 35% for the coming FY2026.
Zico Capital is the sponsor, issue manager and placement agent.
