Vistek Limited, which provides cable laying services for power networks and telecoms in Singapore, filed on Tuesday with the SEC to raise up to $10 million in an initial public offering.
The Singapore-based company plans to raise $10 million by offering 2.3 million shares (30% secondary) at a price range of $4.00 to $5.00. At the midpoint of the proposed range, Vistek would be valued at $98 million.
Vistek states that it assists telecommunication and power network operators in Singapore through cable laying projects, as well as providing other ancillary services, including maintenance projects, connecting underground fiber optic network to aboveground premises, and installation of Wi-Fi networks. As of November 30, 2024, it had 190 employees.
Vistek was founded in 2017 and booked $17 million in revenue for the 12 months ended August 31, 2024. It plans to list on the Nasdaq under the symbol VTEK. Bancroft Capital is the sole bookrunner on the deal. It has not yet launched its roadshow or indicated IPO timing.