SKK Holdings Limited Prices IPO at $4.00-$5.00 Per Share (SKK)

SKK Holdings Limited (SKK) expects to raise $11 million in an IPO on Friday, March 22nd, IPO Scoop reports. The company will issue 2,500,000 shares at $4.00-$5.00 per share.

In the last year, SKK Holdings Limited generated $7.4 million in revenue and $770,000 in net income. The company has a market cap of $70.3 million.

Bancroft Capital LLC acted as the underwriter for the IPO.

SKK Holdings Limited provided the following description of their company for its IPO: “We are a civil engineering service provider that specializes in subsurface utility works in Singapore and have participated in numerous public utility projects, including but not limited to power and telecommunication cable laying works, water pipeline works and sewer rehabilitation works. (Incorporated in the Cayman Islands)  We were founded in 2013 by Mr. Sze, our Chief Executive Officer, together with, among others, Mr. Ng, one of our Executive Directors and our Chief Operating Officer. Our Executive Officers including Mr. Sze, Mr. Ng, Mr. Wong and Mr. Tang have over 28, 26, 18 and 15 years of experience in the field, respectively. As of the date of this prospectus, we were equipped with a fleet of five HDD rigs, 18 excavators and 36 vehicles and a staff over 140. We are one of the five major contractors in Singapore for horizontal directional drilling, or HDD works. *Note: Net income and revenue are for the 12 months that ended June 30, 2023 (in U.S. dollars converted from Singapore dollars) (Note: SKK Holdings Limited filed its F-1 on Jan. 29, 2024, and disclosed terms for its IPO: 2.5 million ordinary shares at a price range of $4.00 to $5.00 to raise $11.25 million. Of the 2.5 million ordinary shares in the IPO, the company is offering 1.75 million shares and selling stockholders are offering 750,000 shares. The company will not receive any proceeds from the sale of the selling stockholders’ shares. Background: SKK Holdings filed confidential IPO documents with the SEC on Sept. 20, 2023.)  “.

SKK Holdings Limited was founded in 2013 and has 141 employees. The company is located at 7 First Lok Yang Road Singapore 629735 and can be reached via phone at +65 6334 3831 or on the web at https://www.skkworks.com.sg/.