Delixy Holdings, which trades crude oil and oil-based products in Southeast and East Asia, filed on Friday with the SEC to raise up to $9 million in an initial public offering.
The Singapore-based company plans to raise $9 million by offering 2 million shares (33% secondary) at a price range of $4 to $5. At the midpoint of the proposed range, Delixy Holdings would command a market value of $74 million.
Delixy is engaged in the trading of oil related products, namely crude oil and oil-based products, such as fuel oils, motor gasoline, and additives, among others. The company trades its products across multiple countries in Southeast and East Asia.
Delixy Holdings was founded in 2007 and booked $317 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol DLXY. The company filed confidentially on June 5, 2024. Bancroft Capital is the sole bookrunner on the deal.
