EKH (SEHK: 2523) has announced a public offering period from June 30, 2026, to July 8, 2026. The company intends to issue a total of 51.6 million shares globally. The Hong Kong public offering will constitute 10% of the total, with the international offering making up the remaining 90%.

The offer price per share is set between HK$2.20 and HK$2.68. Each board lot will consist of 2,000 shares. Trading of the shares on the Stock Exchange is expected to commence at 9:00 a.m. on Monday, July 13, 2026.

Proceeds from the Global Offering

The group estimates that, after deducting underwriting fees and commissions (assuming full payment of the discretionary incentive fee) and the company's estimated expenses, it will receive net proceeds of approximately S$16.1 million from the global offering. This estimate assumes a final offer price of HK$2.44 per share, which is the midpoint of the price range.

In line with its business strategy, the group currently intends to allocate the net proceeds of about S$16.1 million as follows: (1) approximately S$10.0 million will be used for the construction and development of the Mega Depot; (2) around S$4.6 million will be allocated to repay interest expenses incurred on loans and/or bank borrowings taken to finance the Mega Depot's construction costs; and (3) about S$1.5 million will serve as working capital for the group.

Historical Financial Performance

For the fiscal years ended December 31, 2023, 2024, and 2025, the group's revenue was approximately S$156 million, S$165 million, and S$149 million, respectively. The reported net profit for the same periods was about S$8.4 million, S$11.6 million, and S$13.3 million.

Revenue increased in the year ended December 31, 2024, compared to 2023. This was primarily due to (i) higher revenue from container sales and new container inspections, driven by increased demand from some clients due to the Red Sea crisis; and (ii) increased revenue from other operations (freight forwarding services in Qingdao), attributed to freight rate fluctuations in 2024.

Revenue decreased in the year ended December 31, 2025, compared to 2024. This decline was mainly due to reduced storage, handling, and repair volumes in Singapore, the cessation of warehouse operations in Hong Kong, and a decrease in handling and warehousing revenue in China.