SKK Holdings, which provides civil engineering services for utility projects in Singapore, filed on Monday with the SEC to raise up to $11 million in an initial public offering.
The Singapore-based company plans to raise $11 million by offering 2.5 million shares (30% secondary) at a price range of $4 to $5. At the midpoint of the proposed range, SKK Holdings would command a market value of $70 million.
SKK Holdings is a civil engineering services provider that specializes in subsurface utility works in Singapore, including power and telecommunication cable laying works, water pipeline works, and sewer rehabilitation works. The company is currently equipped with a fleet of five horizontal directional drilling (HDD) rigs, 18 excavators, and 36 vehicles, and it states that it is one of the five major contractors in Singapore for HDD works.
SKK Holdings was founded in 2013 and booked $10 million in revenue for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol SKK. The company filed confidentially on September 20, 2023. Bancroft Capital is the sole bookrunner on the deal.
