SMJ International Holdings, a Singapore-based flooring materials distributor, raised $10 million by offering 2.5 million shares at $4, as expected. The company had originally filed to sell shares at a range of $4 to $5 in September, before setting the proposed price at $4 last month. At pricing, the company commands a market cap of $110.
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 plans to list on the NYSE American under the symbol SMJF. US Tiger Securities acted as sole bookrunner on the deal.
