SAG Holdings, a Singaporean distributor of spare automotive and industrial parts, raised $7 million by offering 0.9 million shares at $8, as expected. The company offered 0.1 million fewer shares than anticipated.
SAG Holdings is a distributor of OEM, third party branded, and in-house branded replacement parts for motor vehicles and non-vehicle combustion engines, with operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. The company distributes parts for passenger and commercial vehicles through its On-Highway Business. Its Off-Highway Business serves various industrial sectors including marine, energy, and mining, among others.
SAG Holdings plans to list on the Nasdaq under the symbol SAG. Wilson-Davis & Co. and Dominari Securities acted as joint bookrunners on the deal.
