T20 Holdings Pte. Ltd.
We develop, design, and build globally relevant power generation solutions, supporting our clients with the transition to cleaner energy and developing our own energy focused projects. (Incorporated in Singapore)
We are trusted to solve complex energy transition challenges through ingenious, tailored solutions. We create new growth opportunities for our clients, partners, and employees in the communities where they live and work, while delivering increased shareholder value. We provide contracting (service and maintenance, plan operation, repair and upgrade and new installations), consulting (audits and compliance, design and engineering, procurement and project management) and construction (renovation and refurbishment, temporary support services, fit-outs and new building) services in the building services and power generation sectors.
We have historically concentrated operations in Papua New Guinea (PNG) and have seven years of operating experience delivering significant energy and construction focused projects, including a 45-megawatt (MW) gas-fired power station which delivers electricity for our client and the national utility (PNG Power Limited) to feed into the Port Moresby power grid, greatly reducing the utility’s reliance on diesel generation. We believe that our proprietary power generation technology, specifically our Power Island Floating Storage, Regasification, and Power Generation (Power Island FSRP) technology has widespread applicability to, and significant expansion opportunities for, both regional and global communities, especially in island and coastal regions, and is expected to be a key pillar of our sustainable energy transition focus. The engineering designs for this have all been reviewed and verified by an independent engineer and we are in the process of protecting the related intellectual property.
Our energy business has delivered aggregate revenues of $89 million and $16.7 million in net income over the last three fiscal years ended Dec. 31, 2021. Further financial information for the quarter ending March 31, 2022, is set out beginning on page F-2. We have an established track record of successfully working with major clients, suppliers, and partners, such as the Bank of South Pacific, Exxon Mobil Corporation, Solar Turbines Incorporated, which is a wholly-owned subsidiary of Caterpillar Inc., Hitachi ABB Power Grids, and Emerson Electric Co., as well as state owned enterprises, sovereign wealth funds, and the PNG national utility. Accordingly, we have a strong local presence in PNG and believe that we are well positioned to capitalize on the increasing economic development, urbanization, and demand for electrification across PNG, the wider APAC region, and beyond.
We currently have a strong pipeline of multiyear, national PNG projects, which we expect will deliver significant continued earnings growth for our business.
(Note: T20 Holdings Pte. Ltd. upsized its IPO in an F-1/A filing dated Oct. 3, 2022, by increasing the number of shares to 2.64 million shares (2,637,500 shares), up from 2.0 million shares, and kept the price range at $4.00 to $6.00 to raise $13.19 million. The company will offer 2.0 million ordinary shares and the selling stockholders will offer 637,500 shares, according to the Oct. 3, 2022, filing. The company will raise $10 million from the IPO; it will not receive any proceeds from the sale of the selling stockholders’ shares. Previously: T20 Holdings revamped its IPO by removing warrants and cutting the IPO’s size – to 2.0 million ordinary shares, down from 3.33 million units – and reducing the price range to $4.00 to $6.00, down from $5.00 to $7.00, according to an F-1/A filing dated Aug. 26, 2022. Estimated IPO proceeds are $10 million, down 50 percent from the previous estimate of $19.8 million under the old terms calling for a unit offering of stock and warrants. T20 Holdings Pte. Ltd. filed its F-1 on July 12, 2022.)
|Address||3 Phillip Street #19-01 Royal Group Building Singapore 048693|
|Phone Number||+65 6920 2020|
|View Prospectus:||T20 Holdings Pte. Ltd.|
|Revenues||$11.56 mil (last 12 months)|
|Net Income||$4.03 mil (last 12 months)|
|Price range||$4.00 - $6.00|
|Est. $ Volume||$13.2 mil|
|Manager / Joint Managers||EF Hutton|
|Expected To Trade:|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|