Singapore, 25 February 2022 – CLA Global TS (formerly Nexia TS) is pleased to announce that it has successfully assisted LS 2 Holdings Limited (“LS 2” and together with its subsidiaries, “LS 2 Group”) in its initial public offering (IPO) listing on the Singapore Exchange Catalist board. The Singapore-based environmental services provider debuted yesterday 47.5 per cent higher than its IPO price of S$0.20.
In addition to the cleaning services, LS 2 group has an established network of subcontractors to deliver integrated environmental services such as waste management services. Their customers comprise entities from both the private and public sectors in Singapore and include town councils, facilities managers for commercial and private residential properties, public and private education institutions and private companies.
The firm acted in the capacity of Reporting Auditors while RHT Capital is the full sponsor and issue manager, and Soochow CSSD Capital Markets (Asia) is the placement agent.
Mr. Alvin Ong, Chief Executive Officer and Executive Director, said, “Our company engaged CLA Global TS (formerly Nexia TS) in connection with the proposed listing of LS 2 Holdings Limited on the Catalist of The Singapore Exchange Securities Trading Limited (“SGX-ST”), the Nexia TS team led by Meriana Ang had demonstrated their professionalism as Reporting Accountant for LS 2 and were very professional, thorough, proficient and knowledgeable and delivering a good result within tight timeline in a whole IPO process. We are grateful for the team’s commitment.”
Henry Tan, Group CEO and Chief Innovation Officer, CLA Global TS (formerly Nexia TS), said “Congratulations to LS 2 on a successful IPO. The firm is proud to mark this significant milestone together with the company as going public can be a complicated and time-consuming process. Taking this opportunity, we thank the management team of LS 2 for their support and confidence in us to be their trusted reporting auditors. On behalf of our engagement team, we look forward to working with the LS 2 group in its expansion journey.”
About LS 2 Holdings:
LS 2 Holdings is a one-stop integrated environmental services provider, offering a comprehensive suite of cleaning services to a diverse and growing base of customers from the private and public sectors. With an established track record spanning more than 20 years, the Group believes in making strategic investments in new equipment, technology and people to boost its competitive edge and market position. It is an early adopter of new and innovative solutions, and provides regular training for its workforce of around 2,000, in order to enhance its service offerings to meet customers’ needs and drive service excellence.
For more information, please visit www.ls2.sg.
About CLA Global
CLA Global Limited (CLA Global) is a worldwide organisation of independent accounting and advisory firms. CLA Global member firm professionals provide audit, accounting, tax, and advisory services to help guide organisations and individuals through the increasingly complex global business and financial environment. For more information, visit CLAglobal.com.
About CLA Global TS (formerly Nexia TS)
Founded in 1993, CLA Global TS (formerly known as Nexia T.S.), is an award-winning Asia-Centred Business Advisor. An independent member firm of CLA Global Network, CLA Global TS provides a full spectrum of professional services including, but not limited to Assurance & IPO Reporting, Tax, Risk Advisory, Valuation, Insolvency & Restructuring, Sustainability & Climate Change Advisory and more. For more information, visit CLA-TS.com.