JE Cleantech Holdings, which makes cleaning equipment and provides dishwashing and cleaning services in Singapore, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
The Singapore-based company plans to raise $15 million by offering 3.8 million shares (20% secondary) at a price of $4. At the the proposed deal size, JE Cleantech Holdings would command a market value of $60 million.
JE Cleantech has been selling cleaning systems since 2005 and makes a broad range of products, including aqueous washing systems, plating and cleaning systems, train cleaning systems, and other equipment. The company has been providing centralized dishwashing services for the food and beverage industry since 2013, and expanded into general commercial cleaning services in 2015.
JE Cleantech Holdings was founded in 1999 and booked $18 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq, although it has yet to select a ticker (RC ticker: JECT.RC). ViewTrade is the sole bookrunner on the deal.
