(Note: Prime Skyline Limited, the Cayman Islands holding company, filed an F-1/A dated June 7, 2023, in which it updated its financial statements through Dec. 31, 2022, as it cut the number of shares in the IPO and raised the assumed IPO price: The company is offering 1.83 million shares (1,832,500 ordinary shares) – down from 3.3 million shares (3,298,500 ordinary shares) – and the selling stockholder, Focus Point Developments, Limited, is offering 667,500 shares – down from 1.2 million shares (1,201,500 ordinary shares) – at an assumed IPO price of US$6.00 – up from US$4.00. Estimated IPO proceeds for the company are $11.0 million. The sale of the selling stockholder’s shares will raise an estimated $4.01 million. The company will NOT receive any proceeds from the sale of the selling shareholder’s stock.)

Prime Skyline is a holding company incorporated as an exempted company under the laws of the Cayman Islands. As a holding company with no material operations of our own, we conduct a substantial portion of our operations through Prime Structures, our indirect wholly owned subsidiary and the parent of our operating subsidiaries.

Prime Structures is a Singapore-based company – established in 1995 – that provides complete building envelope solutions through its subsidiaries. The building envelope consists of everything that separates the interior of a building from its external environment.

We take an integrated approach to providing design, building and supply solutions in Singapore, Sri Lanka, Myanmar, the Philippines and Brunei. Our projects include office buildings, industrial plants, resorts, condos and malls.

Note: Revenue and net income figures are in U.S. dollars for the 12 months that ended Dec. 31, 2022.

(Background Note: Prime Skyline Limited, the Cayman Islands holding company, filed an F-1/A dated March 16, 2023, in which it cut the IPO’s size: The company is offering 3.3 million ordinary shares (3,298,500 ordinary shares) – down from 4.58 million ordinary shares (4,581,250 Ordinary Shares) – and Focus Point Developments, Limited, the selling stockholder, is offering 1.20 million ordinary shares (1,201,500 ordinary shares) – down from 1.67 million ordinary shares (1,668,750 Ordinary Shares). The anticipated IPO price is US$4.00. The company will NOT receive any of the proceeds from the sale of the selling shareholder’s stock.)

(More background: Prime Skyline Limited updated its IPO plans with an F-1/A filing dated Jan. 6, 2023, in which it changed its sole book-runner to Kingswood Capital Markets from ViewTrade Securities and updated its financial statements for the period ending June 30, 2022. Prime Skyline Limited increased the size of its IPO in an F-1/A filing dated Sept. 22, 2022: The company will now offer 4.58 million ordinary shares, from 2.75 million shares, and the selling stockholder will now offer 1.67 million ordinary shares, up from 1 million shares initially. The assumed IPO price was kept at US$4.00. Total estimated IPO proceeds are now $25.0 million – up 67 percent from the $15 million in proceeds under the original terms. To break it down:  The company’s estimated IPO proceeds are now $18.32 million, up from $11 million under the initial terms. The selling stockholder’s proceeds are now estimated at $6.68 million, up from $4.0 million under the initial terms. The company will not receive any money from the sale of the selling stockholders’ shares. Prime Skyline first disclosed terms in its F-1 filing dated Sept. 2, 2022.)