Local construction firm applies for listing

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Kin Pang Holdings Limited, a local integrated construction contractor, submitted its application for listing on the Hong Kong Stock Exchange (HKEX) on Tuesday.
Established in 2006, the contractor primarily engages in building and ancillary services as well as emergency repair services, with their business mainly based in Macau, according to the application filing on the HKEX.
The building and ancillary services involve foundation associated works, hard landscaping, alteration and addition works, as well as works relating to roads, water pipes, electricity and mechanism.
The firm has completed 158 projects, and is currently engaged in 21 building and ancillary services projects, with an aggregate outstanding contract sum of MOP116.6 million (US$14.48 million).
For the first five months of this year, the company booked a revenue of MOP77.30 million, with gross profit reaching MOP17.32 million.
The profit made this year posted an increase of 57.5 per cent when compared to the MOP11 million made in the same period last year.
According to the filing, the initial nominal value of the company’s share costs HK$0.01, although the filing has yet to reveal the number of shares to be allocated to the market.