Ultratrex, a Singaporean maker of marine environmental cleanup and dredging machinery, withdrew its plans for an initial public offering on Wednesday. It had filed to raise $6 million by offering 1.3 million shares at a price range of $4 to $5.
The Singapore-based company was founded in 2008 and booked $21 million in revenue for the 12 months ended June 30, 2024. It had planned to list on the Nasdaq under the symbol UTX. Craft Capital Management was set to be the sole bookrunner on the deal.
