Enigmatig, which Singapore-based provider of cross-border financial licensing solutions, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
The company plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Enigmatig would command a market value of $129 million.
Enigmatig is an international consultancy providing one-stop cross-border licensing solutions and related services. Its clients consist primarily of small and medium-sized corporations setting up "contract for difference" brokerage businesses, in particular foreign exchange brokerage businesses in overseas jurisdictions. The company had 55 clients from 15 distinct jurisdictions in the FY2024, primarily in the APAC region.
Enigmatig was founded in 2010 and booked $4 million in revenue for the 12 months ended September 30, 2024. It plans to list on the NYSE American under the symbol EGG. The company filed confidentially on October 30, 2023. Prime Number Capital is the sole bookrunner on the deal.
