Platinum Analytics Cayman, a Singapore-based provider of FX trading software solutions, raised $8 million by offering 2 million shares at $4, the low end of the range of $4 to $5. At pricing, the company commands a market cap of $71 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 plans to list on the Nasdaq under the symbol PLTS. Kingswood Capital Markets acted as sole bookrunner on the deal.
