LHN expands its ISO tank depot


LHN Limited, a real estate management and logistics services group based in Singapore, has raised HK$46.5m ($5.9m) in an international share offering to fund its expansion which includes an ISO tank depot.

Under its logistics services business, LHN provides transport services and container depot management services. It transports mainly ISO tanks, containers, base oil and bitumen, and provides container depot management services which include container surveying, on-site repair and storage of empty general purpose and refrigerated containers (reefer).

TC - LHN expands copy

LHN’s Executive Chairman and Group Managing Director, Mr Kelvin Lim said: “We are very proud to be successfully dual listed on the Main Board of HKSE, this represents a significant milestone for our Group. We are also encouraged by the warm response shown by the investing community globally and in Hong Kong for our dual primary listing. This is a real testament to the faith in our Group’s strategic direction and growth profile.”

The group plans to use the net proceeds of approximately HK$46.5m for the following purposes: approximately 60.4% for the expansion of its space optimisation business by acquiring a new property in Singapore; approximately 23.9% for acquiring a property in Singapore to operate a parking yard for its logistics vehicles and ISO tank depot; approximately 4.0% for setting up its first operation in China; approximately 10.0% for general working capital purposes and approximately 1.7% for acquiring transportation equipment for its logistics services business.

For more information visit www.lhngroup.com

3rd Jan 2018

 
 
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