Singaporean construction service provider FBS Global (FBGL.US) has increased its IPO offering size by 27% to raise $11 million.

FBS Global, which provides interior design and renovation services in Singapore, raised the proposed transaction size for its upcoming IPO on Tuesday. The Singapore-based company now plans to issue 2.3 million shares at a price of $4.50 to $5 per share, raising $11 million. The previously proposed price range was $4 to $5 per share with 1.9 million shares to be issued. Based on the midpoint of the revised valuation range, FBS Global will raise 27% more funds than expected, with a market value of $64 million. FBS Global states that it is a mature expert in interior design and renovation in Singapore. Its services include design, supply, and installation of ceilings, partition walls, wooden floors, carpets, lead lining, soundproof wall panels, built-in furniture, carpentry, and mechanical and electrical services. The company also undertakes major construction projects. Established in 1996, FBS Global had revenue of $13 million in the 12 months ending June 30, 2023. The company plans to list on the NASDAQ under the ticker symbol "FBGL". WallachBeth Capital is the sole bookrunner for this transaction.