Singapore marine restoration machinery manufacturer Ultratrex submits IPO application for US stock market, aiming to raise $6 million
Singapore marine environmental cleaning and dredging machinery manufacturer Ultratrex submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Monday, planning to raise up to $6 million. The Singapore company plans to issue 1.3 million shares at a price of $4 to $6 per share, raising $6 million. Based on the midpoint of the proposed price range, Ultratrex's market capitalization will reach $106 million. Ultratrex is an environmental solutions provider specializing in amphibious machinery, aquatic plant harvesters, and dredgers. The company focuses on projects related to environmental cleanup, habitat restoration, and land reclamation, primarily serving clients in Southeast Asia, the Middle East, and parts of Europe. The company was founded in 2008, and its revenue for the 12 months ending June 30, 2024, was $21 million. The company plans to list on NASDAQ under the ticker symbol UTX. Craft Capital Management is the sole bookrunner for this transaction
According to Zhitong Finance APP, Singapore-based marine environmental cleaning and dredging machinery manufacturer Ultratrex submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Monday, planning to raise up to $6 million.
The Singapore company plans to issue 1.3 million shares at a price of $4 to $6 per share, raising $6 million. Based on the midpoint of the proposed price range, Ultratrex's market capitalization will reach $106 million.
Ultratrex is an environmental solutions provider specializing in amphibious machinery, aquatic plant harvesters, and dredgers. The company focuses on projects related to environmental cleanup, habitat restoration, and land reclamation, primarily serving clients in Southeast Asia, the Middle East, and parts of Europe.
Founded in 2008, the company reported revenue of $21 million for the 12 months ending June 30, 2024. The company plans to list on NASDAQ under the ticker symbol UTX. Craft Capital Management is the sole bookrunner for this transaction
