FF Global Holdings, a timber trader focused on sourcing hardwood from the DRC for China-based customers, raised the proposed deal size for its upcoming IPO on Thursday.
The Singapore-based company now plans to raise $25 million by offering 5 million shares at a price range of $4 to $6. The company had previously filed to offer 4 million shares at the same range. At the midpoint of the revised deal size, FF Global Holdings will raise 25% more in proceeds than previously anticipated and command a market cap of $175 million (+3% versus previous terms).
FF Global Holdings conducts its operations through its subsidiary, Future Faith, which trades African hardwood logs sourced from concession areas in the Democratic Republic of the Congo. The company supplies customers across Asia and the Middle East, including China, Hong Kong, Vietnam, Japan, and the UAE, primarily serving log traders, manufacturers, and wood-processing companies. In fiscal 2025, it expanded into sawn timber by adding European Ash sourced from Vietnam. Its supply is largely dependent on a single distributor (91.9% of hardwood log purchases in FY 2025), and its FY 2025 came from just four customers, with its top customer accounting for 76.0% of revenue.
FF Global Holdings was founded in 2022 and booked $11 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol FFGG. Blue Diamond Securities of America is the sole bookrunner on the deal.
