Singapore’s flexible workspace provider JustCo Holdings Pte. Ltd. has lodged a preliminary prospectus with the Monetary Authority of Singapore in connection with a proposed initial public offering (IPO) and listing on the Mainboard of the Singapore Exchange Securities Trading Limited.
In a statement on Thursday, JustCo, which plans to rename itself JustCo Holdings Limited, said the offering would involve the listing of its ordinary shares on the SGX-ST.
Founded in 2011 and headquartered in Singapore, JustCo operates coworking centers across major cities in the Asia-Pacific region. The company describes itself as one of the region’s largest flexible workspace providers and currently manages a multi-brand portfolio that includes THE COLLECTIVE, JustCo, and the boring office.
According to the company, THE COLLECTIVE targets the luxury workspace segment, while JustCo focuses on premium coworking spaces and the boring office brand caters to essential office solutions.
In May 2018, GIC, Singapore’s sovereign wealth fund, and multi-national property company Frasers Property Limited parted with JustCo. The three sides’ joint investment of $177 million at the time aimed to help JustCo build on its presence in Southeast Asia and expand into other Asian markets such as Greater China, Korea, Japan, Vietnam, Malaysia, the Philippines, Australia and India.
In May 2024, Frassers Property said it increased the holding in JustCo to 22.5 percent.