SMJ International Holdings, a Singapore-based flooring materials distributor, lowered the proposed deal size for its upcoming IPO on Tuesday.
The Singapore-based company now plans to raise $10 million by offering 2.5 million shares at $4. The company had previously filed to offer the same number of shares at a range of $4 to $5. At the revised terms, SMJ International Holdings will raise 11% less in proceeds than previously anticipated.
SMJ International specializes in the sale and distribution of a range of flooring products such as carpet tiles, broadloom carpets and vinyl tiles under its proprietary brand known as “SMJ” in Singapore and over 20 countries mainly in Asia. These overseas markets include Malaysia, Indonesia, Philippines, Hong Kong, PRC, and Taiwan, among others.
SMJ International Holdings was founded in 1988 and booked $13 million in revenue for the 12 months ended March 31, 2025. It plans to list on the NYSE American under the symbol SMJF. US Tiger Securities is the sole bookrunner on the deal.
