Suke, which operates the over-the-top shopping channel SUKE TV in Malaysia, lowered the proposed deal size for its upcoming IPO on Thursday. The company last updated its prospectus in March 2024, shortly after it submitted its initial filing.
The Kuala Lumpur, Malaysia-based company now plans to raise $7 million by offering 1.5 million shares at a price range of $4 to $5. The company had previously filed to offer 2 million shares at a range of $4 to $6. At the midpoint of the revised range, Suke will raise 33% less in proceeds than previously anticipated and command a market cap of $107 million.
Suke was founded in 2021 and booked $4 million in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol SUKE. Blue Diamond Securities of America is the sole bookrunner on the deal.
