Neutrans, which provides fiber-optic internet infrastructure in Malaysia, raised the proposed deal size for its upcoming IPO on Thursday.
The Cyberjaya, Malaysia-based company now plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. The company had previously filed to offer 1.9 million shares at the same range. At the midpoint of the revised deal size, Neutrans will raise 100% more in proceeds than previously anticipated and command a market cap of $128 million (+8% versus previous terms).
The company provides fiber-optic infrastructure in Malaysia, owning and operating about 80 fiber ducts. Its offerings include selling fiber ducts (66% of FY25 revenue), leasing fiber cores (28%), entering IRU agreements (4%), and providing related operation and maintenance services to enterprise and carrier customers (2%).
Neutrans was founded in 2011 and booked $4 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol NEUT. Blue Diamond Securities of America and Cathay Securities are the joint bookrunners on the deal.
