Davis Commodities, a Singapore-based commodity trading company focused on sugar, rice, and fats, filed on Thursday with the SEC to raise up to $17 million in an initial public offering.
Davis Commodities is an agricultural commodity trading company which specializes in sugar, rice, and oil and fat products, distributing these commodities in over 20 countries across Asia, Africa, and the Middle East. The company operates an asset light business model and utilizes an established global network of third-party commodity suppliers and logistics service providers. Davis Commodities sources and markets its products under two main brands, Maxwill and Taffy, and is also the exclusive distributor of the Lin brand in Singapore.
The Singapore-based company was founded in 1999 and booked $210 million in revenue for the 12 months ended June 30, 2022. It plans to list on either the Nasdaq or the NYSE American under the symbol DTCK. Davis Commodities filed confidentially on October 21, 2022. Univest Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
