Platinum Analytics Cayman, a Singapore-based provider of FX trading software solutions, filed on Friday with the SEC to raise up to $9 million in an initial public offering.
The company plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Platinum Analytics Cayman would command a market value of $138 million.
The company specializes in the provision of FX trading software development solutions, data analytics solutions, and technology development solutions to financial institutions with a strategic focus on serving Asia and other emergent markets. It also operates a spot FX trading platform, the Electronic Communications Network (ECN), which provides brokerage-based trading solutions for institutional and enterprise clients.
Platinum Analytics Cayman was founded in 2016 and booked $2 million in revenue for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol PLTS. Kingswood Capital Markets is the sole bookrunner on the deal.
