Republic Power Group, which provides software development services in Southeast Asia, revised the terms for its upcoming IPO on Friday.
The Singapore-based company now plans to raise $20 million by offering 4 million shares (25% secondary) at a price range of $4 to $6. The company had previously filed to offer 3 million shares (100% primary) at the same range. At the midpoint, Republic Power Group's offering will raise 33% more in proceeds than previously anticipated.
Republic Power Group provides customized software development services, technology solutions, consulting and technical support services, and peripheral hardware to corporate clients and government agencies based in Singapore and Indonesia, such as airports, cruise terminals, technology companies, and law enforcement agencies. The company's software provides real-time monitoring, resources allocation, planning surveillance, and threat detection.
Republic Power Group was founded in 2015 and booked $3 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol RPGL. Univest Securities is the sole bookrunner on the deal.
