This week in ESG: Electricity transmission and distribution specialist prices initial public offering; Singapore green bond due 2046 to yield 2.4%
Sustainable investing
EGP Energy’s success outside Singapore remains to be seen
The initial public offering (IPO) of EGP Energy Corp offers investors insulation against climate risk, but it remains to be seen whether the electrical infrastructure solutions and services provider can capture new opportunities in the energy transition.
EGP Energy is looking to raise about S$30.6 million through stock offerings at S$0.51 a share that value the company at about S$115 million. The company is offering 18.8 million shares through the IPO, while cornerstone investors Amova Asset Management, Avanda Investment Management, Ginkgo-AGT Global Growth Fund, Value Partners Hong Kong and Whitefield Capital Management are taking a further 41.2 million shares.
