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FBS Global Shares Slide 25% as Nasdaq Listing Secured Ahead of $15M IPO

NASDAQ

FBGL

October 20, 2025 | 2:32pm
FBS GLOBAL LIMITED
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As of October 20, 2025 2:32pm

Introduction

FBS Global Limited (NASDAQ: FBGL) operates as a building contractor in Singapore, specializing in green construction methods and interior fit-out services. Shares traded at 0.4298 USD on October 20, 2025, reflecting a 25.33 percent decline on a trading volume of 311,268.

Corporate Structure and Workforce

Effective August 2, 2022, FBS Global Limited, incorporated on March 10, 2022, in the Cayman Islands, became the ultimate holding company for the group. It owns 100 percent of Success Elite Development Limited, which was incorporated on February 22, 2022, in the British Virgin Islands. This entity, in turn, holds Finebuild Systems Pte Ltd, established on March 9, 1996, under Singapore law, which serves as the group’s sole operating entity. According to its LinkedIn profile, FBS Global Limited reports a workforce of between 201 and 500 employees, with expertise in sustainable construction, project management, and engineering disciplines.

Green construction

Green construction by Danist Soh

Developments and News

On February 6, 2025, FBS Global announced through Globe Newswire that WallachBeth Capital LLC would continue to provide capital markets and institutional execution services to the Company. The following day, February 7, 2025, the Company confirmed on PR Newswire that its listing on the Nasdaq Capital Market remained unaffected by notices from the exchange. In advance of its U.S. initial public offering, filings disclosed a proposed deal size of $15 million, with interior design and fit-out services highlighted as key offerings.

Financial and Strategic Analysis

As of October 20, 2025, FBS Global’s market capitalization stood at approximately $5.8 million, with approximately 13.5 million shares outstanding. Key trailing twelve-month metrics include:

  • Revenue of $10.695 million
  • Gross margin of 9.03 percent
  • Net margin of –5.88 percent
  • EBITDA of $0.615 million
  • Earnings per share of –$0.04 (P/E ratio of 9.72)
  • Return on equity of 17.37 percent
  • Debt-to-equity ratio of 31.78 percent

Strategically, the Company aims to secure contracts for green building projects and emphasizes the use of environmentally sound materials and methods. Its service offerings include the installation of ceilings, partitions, timber decking, acoustic paneling, built-in furniture, and mechanical and electrical installations. The vertical integration—from material supply to waste recycling—aims to support cost control and compliance with evolving sustainability standards.

Market Position and Industry Context

In the Singapore construction sector, FBS Global leverages over 20 years of experience through Finebuild Systems Pte Ltd. Institutional, residential, commercial, and industrial clients seeking sustainable building solutions form the core customer base. The Company competes based on its sustainable practices and turnkey fit-out capabilities amid increased regulatory focus on energy efficiency and waste reduction. Over the 52 weeks ending October 20, 2025, the share price ranged from 0.41 USD (October 20, 2025) to 5.45 USD (February 6, 2025), reflecting market responsiveness to liquidity, project pipelines, and broader construction activity in the region.

tl;dr

On October 20, 2025, FBGL shares closed at 0.4298 USD, down 25.33 percent. Market capitalization is approximately $5.8 million. In February 2025, the Nasdaq listing remained unaffected by exchange notices, and a $15 million U.S. IPO was proposed. The Company continues to focus on green building projects and interior fit-out services in Singapore, with financial results indicating a net loss margin of 5.88 percent over the past year.

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FBS Global Shares Slide 25% as Nasdaq Listing Secured Ahead of $15M IPO