Singapore-based Boustead Wavefront withdraws $8 million US IPO

Boustead Wavefront, a Singapore-based boutique investment bank providing market entry and advisory services, withdrew its plans for an initial public offering on Friday. It had filed in May 2022 and most recently planned to raise $8 million by offering 1.3 million shares at $6. The company had not updated its prospectus since January 2023.

The Singapore-based company was founded in 2006 and booked $1 million in revenue for the 12 months ended June 30, 2022. It had planned to list on the Nasdaq under the symbol BOUW. Revere Securities was set to be the sole bookrunner on the deal.