Fitting-out and alterations contractor OLS Group has forecast an attributable profit of at least $83 million this year. Chairman Alfred Siu Wing-fung said the expected dividend would be at least five cents a share. The company opens its public-share offering today to raise $198 million from the issue of 120 million shares at $1.65 a share. The new shares represent 30 per cent of its enlarged share capital. The issue price puts the shares on a prospective price-earnings multiple of 7.6 on a pro forma, fully diluted basis. Mr Siu said the company had contracts worth $571.2 million on hand. The company, an offshoot of Australian-listed construction company OLS Asia Holdings, has also bid for several contracts worth a possible $490 million. 'Based on our track record, we get one out of every five tenders we submit,' Mr Siu said. Last year, the company made a profit of $68.74 million, on a turnover of $509.92 million. The company is involved in fitting-out works at the Hong Kong Convention and Exhibition Centre extension. It is also working on the Kowloon-Canton Railway Corp's Kowloon station and Cathay Pacific Airways' headquarters at Chek Lap Kok. The company has access to bank loans of $130 million and has drawn down $19.5 million. Finance director Lui Yiu-kuen said the company's debt-to-equity ratio was close to zero. Trading in the shares will begin on June 26.