Skubbs Holdings, a Singapore-based provider of app development and platform ad services, raised the proposed deal size for its upcoming IPO on Friday.
The company now plans to raise $25 million by offering 5 million shares (20% secondary) at a price range of $4.50 to $5.50. The company had previously filed to offer 2 million shares at a price range of $4 to $5. At the midpoint of the revised range, Skubbs Holdings will raise 178% more in proceeds than previously anticipated and command a market value of $78 million.
Through its operating subsidiary in Singapore, the company generates revenue from two service lines: IT solutions, which include web and mobile application development and maintenance and support services; and platform advertisement services, which it provides through Dee-Market, its online marketplace platform launched in 2022. Since its inception, Skubbs has developed over 800 mobile and web applications for customers across a variety of industries including healthcare, technology, and financial services, among others.
Skubbs Holdings was founded in 2013 and booked $3 million in revenue for the 12 months ended December 31, 2025. It plans to list on either the Nasdaq or the NYSE American under the symbol SKUB. Blue Diamond Securities of America is the sole bookrunner on the deal.
