Skubbs Holdings, a Singapore-based provider of app development and platform ad services, announced terms for its IPO on Monday.
The company plans to raise $9 million by offering 2 million shares (13% secondary) at a price range of $4 to $5. At the midpoint of the proposed range, Skubbs Holdings would command a market value of $60 million.
Through its operating subsidiary in Singapore, the company generates revenue from two service lines: IT solutions, which include web and mobile application development and maintenance and support services; and platform advertisement services, which it provides through Dee.Market, its online marketplace platform launched in 2022. Since its inception, Skubbs has developed over 800 mobile and web applications for customers across a variety of industries including healthcare, technology, and financial services, among others.
Skubbs Holdings was founded in 2013 and booked $1 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol SKUB. Revere Securities is the sole bookrunner on the deal.
