Uni-Fuels Holdings, a Singapore-based provider of marine fuels, filed on Monday 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, Uni-Fuels Holdings would command a market value of $149 million.
Uni-Fuels markets, resells, and brokers marine fuels products to shipping companies and marine fuels suppliers worldwide in-port and offshore. The company operates an integrated business model where it serves customers through two segments: sales of marine fuels solutions, where it controls and manages the customer relationship throughout the entire transaction and provides value-added solutions such as trade credit and financing; and brokerage, where it refers the customer to a third-party supplier in exchange for a brokerage fee.
Uni-Fuels Holdings was founded in 2021 and booked $131 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol UFG. The company filed confidentially on May 3, 2024. R.F. Lafferty & Co. is the sole bookrunner on the deal.
