APEX Global Solutions, a Singaporean provider of corrosion prevention and surface preparation services for shipyards, announced terms for its IPO on Monday.
The Singapore-based company plans to raise $7 million by offering 1.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, APEX Global Solutions would command a market cap of $119 million.
The Singapore-based company provides corrosion prevention, surface preparation, and maintenance solutions services, including hydro blasting and grit blasting for surface cleaning, professional coating and painting, and maintenance and repair services for vessels operating at docks and in open waters. It also provides manpower supply to support marine operations. The company's customer base is primarily shipyards in Singapore.
APEX Global Solutions was founded in 2009 and booked $7 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol APEX. US Tiger Securities is the sole bookrunner on the deal.
