Ohmyhome, which operates a real estate brokerage and property services platform in Singapore, filed on Tuesday with the SEC to raise up to $15 million in an initial public offering.
The Singapore-based company plans to raise $15 million by offering 3.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Ohmyhome would command a market value of $88 million.
Operating under various subsidiaries, Ohmyhome provides end-to-end property solutions and services for both the Housing Development Board of Singapore and the private property market, which comprises brokerage and other services, such as home renovation services, listing and research, and insurance referral services. Since commencing operations in 2016, its platform has facilitated 4,400 agent brokerage transactions and other property-related services and over 7,200 self-transacted online property transactions. The online platform also has 250,000 monthly active users and its mobile application has received 650,000 downloads in Singapore and Malaysia.
Ohmyhome was founded in 2015 and booked $4 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol OMH. Spartan Capital Securities is the sole bookrunner on the deal.
