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Kwong Luen Engineering Holdings

Kwong Luen Engineering Holdings is a foundation works contractor in Hong Kong. It commenced business in 1995 and have since undertaken foundation works in the role of subcontractor through Kwong Luen Engineering, its principal operating subsidiary. According to the F&S Report, the Group was ranked as the fourth largest (in terms of revenue) foundation works subcontractor in Hong Kong in 2019, and accounted for approximately 1.7% market share of the foundation industry.

During the FY2017/18, FY2018/19, FY2019/20 and the five months ended 31 August 2020, the foundation works undertaken mainly comprised ELS and other associated works including pile cap construction, underground drainage works and site formation works. The majority of revenue was derived from foundation works in residential developments.

The Group pricing strategies for public and private sector projects; and residential and non-residential projects are largely similar. Its customers mainly included construction contractors or foundation works contractors in Hong Kong.

As at 31 March 2018, 2019, 2020, 31 August 2020 and 17 Feb 2021, the Group had a total of 12, 18, 23, 33 and 16 projects in its backlog (including projects that have been awarded but not yet commenced).

MarketHong Kong (Main Board)
Business NatureConstruction
Board Lot5,000
Registrar & Transfer OfficeBoardroom Share Registrars (HK)
No. of Offer Shares250m shares
No. of Placing Shares225m shares
No. of Public Offer Shares25.00m shares
Offer Price$0.50 - $0.54
Nominal ValueHK$ 0.01 each
Stock Code1413
Sponsor(s)Grande Capital Limited
Underwriter(s)Space Securities Limited; CMBC Securities Company Limited; Innovax Securities Limited; Guosen Securities (HK) Capital Company Limited; SPDB International Capital Limited; Freeman Securities Limited; Realord Asia Pacific Securities Limited; Victory Securities Company Limited; DL SECURITIES (HK) LIMITED; uSmart Securities Limited; GLAM Capital Limited; Plutus Securities Limited
Application PeriodFeb 26 (Fri) - Noon, Mar 3 (Wed)
Price Determination DateOn or Before 5pm, Mar 5 (Fri)
Result Announcement DateOn or Before Mar 10 (Wed)
Dispatch of Shares and Refund ChequesOn or Before Mar 10 (Wed)
Dealings in Shares commence onMar 11, 2021. (Thu)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
ExecutiveYIP Kwong Cheung (Chairman), KWAN Chui Ling
Independent Non-ExecutiveCHENG Shing Yan, WONG Yiu Kit Ernest, TANG Sher Kin
Director YIP Kwong Cheung75.00%
(Year ended Mar 31)
2020 *20202019
Gross Profit28,52352,21733,224
Pre-Taxed Profit18,62946,38030,127
Attributable Profit for the period14,34038,40825,156
* For the five months ended August 31, 2020.
Offer Price$0.50 - $0.54
Capitalization$500m - $540m
Unaudited pro forma adj NAV / share$0.19 - $0.20
Assuming the offer price being at the mid-point of $0.52, the net proceeds raised would be HK$92.7m, of which:
* $38.1m (41.1%) to be used for financing the up-front costs of projects;;
* $34.8m (37.5%) to purchase additional machinery, namely excavators and crawler crane;
* $14.8m (16.0%) to be used for further expanding and strengthening our manpower by recruiting additional staff;
* $5.0m (5.4%) to be used for purchasing a building information modeling software together with certain ancillary supporting hardware device.
Code Name Nominal Change %Change
01413KWONG LUEN ENGdown0.335-0.005-1.471%
01591SHUN WO GROUPunchange0.0230.0000.000%
06080WING CHI HLDGSdown0.086-0.002-2.273%
08262SUPER STRONGdown0.300-0.015-4.762%
08460BASETROPHY GPdown0.062-0.006-8.824%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 13/04/2021 17:59
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