Ten-League International Holdings, a Singapore-based provider of heavy equipment and engineering consultancy services, raised $9 million by offering 2.2 million shares (28% secondary) at $4, the low end of the range of $4 to $5.
Ten-League International's business primarily consists of sales of heavy equipment and parts, heavy equipment rental, and provision of engineering consultancy services to port, construction, civil engineering, and underground foundation industries. The equipment it provides can be categorized into foundation equipment, hoist equipment, excavation equipment, and port machinery.
Ten-League International Holdings plans to list on the Nasdaq under the symbol TLIH. Bancroft Capital acted as sole bookrunner on the deal.
