Wee Hur Holdings, which is building Orange Grove Residences and Parkview Eclat in Grange Road, hopes to ride on the construction boom to raise $17.8 million in its initial public offering (IPO).

It is offering 83.65 million shares - 79 million new and the rest vendor shares - at 25 cents each. Of these, 2.1 million are for the public and the rest for private placement.

The proceeds will be used for Wee Hur's current and upcoming projects, said executive chairman and managing director Goh Yeow Lian.

This will improve the company's financial standing, helping it land larger-scale projects - worth at least $100 million - and making it easier for it to obtain loans, he said.

Mr Goh has shrugged off worries about stock market volatility, saying the construction sector is still seeing high demand and good growth.

Read the full story in Tuesday's edition of The Straits Times.