Concorde International Group Limited (CIGL), a Singapore-based security services and facilities management company, priced its micro-cap IPO at $4.00 – the assumed IPO price in the prospectus – and sold 1.25 million shares – the number of shares in the prospectus – to raise $5.0 million on Monday night, April 21, 2025. Shares of Concorde International are expected to start trading today – Tuesday, April 22, 2025.
R.F. Lafferty & Co. was the sole book-runner.
Concorde International Group Limited is an integrated security services provider that combines physical manpower and innovative technology to deliver effective security solutions, according to the prospectus. The company, founded in 1997, has received numerous awards for its innovations in security technology, the prospectus said. In 2014, Concorde said that “we decided to transit into a security solution services company using our innovative business model.” Concorde serves commercial, financial, industrial and governmental customers in Singapore.
“With our patented technological innovation, we deliver a higher level of security performance while requiring fewer personnel,” Concorde said in the prospectus. “Traditionally, a 24-hour shift would necessitate at least three guards for coverage. Our solution involves deploying CCTV cameras, sensors, and other IoT devices at our clients’ premises to enable remote access control monitoring and management. These devices are integrated and controlled through our mobile command vehicles, known as “I-Man Facility Sprinters (IFS),” which patrol a cluster of client sites within a defined radius. This proactive approach enables swift responses to any incidents that arise. Consequently, our clients have experienced a reduction in the required on-site guards from three to two or even fewer, thanks to the efficient utilization of these technologies. The implementation of CCTV cameras, sensors, and other IoT devices has not only minimized human errors but has also decreased the overall need for additional personnel.”
Concorde International Group Limited was not profitable for the 12 months that ended June 30, 2024, according to the prospectus.
