The Group appointed Evolve Capital Advisory as the sponsor, as well as the issuance manager and allotment agency for the initial public offering.
It seems that this is the first time that such a company has sold shares since its peer Cityneon (now Neon) delisted from the SGX in 2019.
The group's business has a history of more than 35 years, with a turnover from RMB 18.3 million in fiscal year 2022 to RMB 33.4 million in fiscal year 2024, a compound annual average growth rate (CAGR) of 35.3%, and a net profit also increased from RMB 1.6 million to RMB 5 million, with a compound annual average growth rate of 75.0%.
Dezign Format Group Ltd, which provides creative design and construction services for exhibitions and stores, submitted a preliminary prospectus to the Singapore Exchange on Monday (June 30), to raise funds for the initial public offering (IPO) and list on Kelly's board.
Dezign Format Group is headquartered in Singapore and has subsidiaries in both Singapore and Malaysia.