Orangekloud Technology, a Singapore-based provider of software development services for SME, filed on Tuesday with the SEC to raise up to $14 million in an initial public offering.
The company plans to raise $14 million by offering 3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Orangekloud Technology would command a market value of $104 million.
Orangekloud conducts its operations in Singapore and Malaysia through operating subsidiaries MSC Consulting, which provides consulting, customizing, implementing, sales and after sales support for Microsoft Dynamics Enterprise Resource Planning System; Orangekloud Singapore, which provides a no-code platform and mobile application technology; and MSCI Consulting, which provides support to its Singapore business units.
Orangekloud Technology was founded in 2003 and booked $5 million in revenue for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol ORKT. The company filed confidentially on July 6, 2023. Maxim Group LLC is the sole bookrunner on the deal.
