Eternal Group Holdings (02523) will conduct a global offering of 51.6 million shares from June 30 to July 8.

Yongkang Holdings (02523) will be listed from June 30, 2026 to July 8, 2026. The company plans to globally issue 51.6 million shares, with 10% of shares available for public offering in Hong Kong and 90% for international offering. The offering price per share is HK$2.2-2.68. The trading of shares is expected to begin on July 13, 2026 at 9:00 am on the Stock Exchange. Based on the container throughput in 2025, the group is the leading container yard operator in Singapore and the second largest in Southeast Asia (according to Frost & Sullivan report, the group has a 16.2% market share in Singapore and 5.9% in Southeast Asia), providing services to container shipping companies and leasing companies operating in the ASEAN region and China. The group is headquartered in Singapore and operates in China, Hong Kong, Malaysia, Thailand, and Vietnam. As of the latest practical date, the group operates 18 container yards at 10 locations, offering a range of container and logistics services (including storage and handling, maintenance and repair, new container inspection, and container transport). The group also engages in the sales and trading of containers and container parts, as well as other logistics-related ancillary services (such as warehousing and container freight stations and shipping agents). The group estimates that after deducting underwriting fees and commissions (assuming full discretionary incentive fees are paid) and estimated expenses payable by the company, the group will receive a net income of approximately S$16.1 million from the global offering (assuming an offering price of HK$2.44 per share, i.e., the median of the offering price range). In line with the group's business strategy, the group intends to allocate the net proceeds of the global offering of approximately S$16.1 million as follows: (1) approximately S$10 million for the construction and development of Mega Depot; (2) approximately S$4.6 million to repay loans and/or bank borrowings taken for financing the construction costs of Mega Depot and interest expenses; and (3) approximately S$1.5 million for the group's working capital. For the financial years ended December 31, 2023, 2024, and 2025, the group's revenue was approximately S$156 million, S$165 million, and S$149 million respectively, and the group's net profit for the same period was approximately S$8.4 million, S$11.6 million, and S$13.3 million respectively. The group's revenue increased from the period ending in 2023 to 2024 mainly due to increased revenue from container sales and new container inspection as a result of increased demand from some customers due to the Red Sea crisis, and increased revenue from other services (Qingdao freight agent services) due to fluctuations in freight rates in 2024. The group's revenue increased from the period ending in 2024 to 2025 mainly due to a decrease in storage, processing, and maintenance volume in Singapore, termination of warehouse business in Hong Kong, and a decrease in processing and storage revenue in China.