Orangekloud Technology, a Singapore-based provider of software development services for SME, raised $13 million by offering 2.8 million shares at $4.75, the low end of the range of $4.75 to $5.25.
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. The company generates revenue through sales of licenses and products, as well as the provision of services and support.
Orangekloud Technology plans to list on the Nasdaq under the symbol ORKT. Maxim Group LLC acted as sole bookrunner on the deal.
