Magnitude International, which provides electrical installation services in Singapore, filed on Wednesday with the SEC to raise up to $10 million in an initial public offering.
The company plans to raise $10 million by offering 2.2 million shares (25% secondary) at a price range of $4 to $5. At the midpoint of the proposed range, Magnitude International would command a market value of $158 million.
Magnitude International provides electrical installation for private and public housing, commercial and mixed-use developments, and other types of public facilities, including the installation of generators, transformers, and high and low tension systems, among others. It also provides various types of A&A works.
The Singapore-based company was founded in 2012 and booked $14 million in revenue for the 12 months ended October 31, 2024. It plans to list on the Nasdaq under the symbol MAGH. Magnitude International filed confidentially on January 2, 2025. Bancroft Capital is the sole bookrunner on the deal.
