Republic Power Group, which provides software development services in Southeast Asia, raised $8 million by offering 2.1 million shares (41% secondary) at $4, the low end of the range of $4 to $5. At pricing, the company commands a market value of $69 million.
Republic Power Group provides customized software development services, technology solutions, consulting and technical support services, and peripheral hardware to corporate clients and government agencies based in Singapore and Indonesia, such as airports, cruise terminals, technology companies, and law enforcement agencies. The company's software provides real-time monitoring, resources allocation, planning surveillance, and threat detection.
Republic Power Group plans to list on the Nasdaq under the symbol RPGL. Bancroft Capital acted as sole bookrunner on the deal.
