Vistek, which provides cable laying services for power networks and telecoms in Singapore, raised the proposed deal size for its upcoming IPO on Tuesday.
The Singapore-based company now plans to raise $11 million by offering 2.3 million shares (30% secondary) at a price range of $4 to $6. The company had previously filed to offer the same number of shares at a range of $4 to $5. At the midpoint of the revised range, Vistek will raise 11% more in proceeds than previously anticipated and command a market value of $109 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 January 31, 2025, it had 185 employees.
Vistek was founded in 2017 and plans to list on the Nasdaq under the symbol VTEK. Bancroft Capital is the sole bookrunner on the deal.
