SAG Holdings, a Singaporean distributor of spare automotive and industrial parts, filed on Friday with the SEC to raise up to $15 million in an initial public offering.
The company disclosed that it plans to offer 3.8 million shares (17% secondary), although it did not disclose a price range.
SAG Holdings is a distributor of OEM, third party branded, and in-house branded replacement parts for motor vehicles and non-vehicle combustion engines, with operations primarily based in Singapore and global sales primarily generated from the Middle East and Malaysia. The company distributes parts for passenger and commercial vehicles through its On-Highway Business. Its Off-Highway Business serves various industrial sectors including marine, energy, and mining, among others. SAG Holdings is led by members of the founding Neo family, with brothers Jimmy and Edward Neo serving as CEO and Deputy CEO, respectively.
The company was founded in 1975 and booked $43 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol SAG. Spartan Capital Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
