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The IPO Buzz: Singapore’s SKK Holdings (SKK) Prices IPO at $4.00 – Low End

Monday, October 7, 2024 18:05

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SKK Holdings Limited (SKK), the holding company of a Singapore civil engineering services provider, priced its micro-cap IPO at $4.00 – the low end of its $4.00-to-$5.00 price range – today – Monday, Oct. 7, 2024. SKK Holdings Limited sold 2.5 million shares – the number of shares in the prospectus – at $4.00 each – to raise $10.0 million. Shares of SKK Holdings Limited are expected to start trading Tuesday, Oct. 8, 2024, on the NASDAQ. Of the IPO’s 2.5 million shares, the company offered 1.75 million shares and the selling shareholders offered 750,000 shares. SKK Holdings will not receive any of the proceeds from the sale of the selling shareholders’ stock. Bancroft Capital, a financial services firm majority owned by disabled U.S. veterans, served as the sole book-runner of SKK Holdings’ IPO. SKK Holdings said in the prospectus that it conducts its business through its wholly owned operating subsidiaries, which specialize in subsurface utility work in Singapore. SKK said that through its subsidiaries, the company has “participated in numerous public utility projects, including but not limited to power and telecommunication cable laying works, water pipeline works and sewer rehabilitation works.” The company was founded in 2013. The holding company is incorporated in the Cayman Islands. “We are one of the five major contractors in Singapore for horizontal directional drilling, or HDD, works,” SKK Holdings Limited said in the prospectus. The company is profitable.

Source: https://www.iposcoop.com/the-ipo-buzz-singapores-skk-holdings-skk-prices-ipo-at-4-00-low-end/

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