Brilliance Group, a Singapore-based steel fabricator specializing in structural steel and metal works, filed on Monday with the SEC to raise up to $11 million in an initial public offering.
The Singapore-based company plans to raise $11 million by offering 2.4 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Brilliance Group would command a market value of $90 million.
Operating primarily through subsidiary KHIW, the company is a steel fabricator in Singapore specializing in structural steel and metal works. The company procures raw steel material from suppliers, designs and fabricates its steel products in-house, and installs the finished products. Brilliance Group currently has 21 projects with aggregate contract sums of approximately $34 million.
Brilliance Group was founded in 1965 and booked $48 million in revenue for the 12 months ended January 31, 2023. It plans to list on the Nasdaq under the symbol KHIW. Network 1 Financial Securities is the sole bookrunner on the deal.
