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Facilities services provider Primech Holdings files for a $23 million US IPO

March 31, 2022

Primech Holdings, which provides cleaning and maintenance services to facilities in Singapore and Malaysia, filed on Thursday with the SEC to raise up to $23 million in an initial public offering.

The company states that it is a technology-driven facilities services provider in the public and private sectors operating mainly in Singapore, with a small portion of operations in Malaysia. Primech provides facilities services, stewarding services, cleaning services to offices, cleaning services to homes, and cleaning supplies.

The Singapore-based company was founded in 1984 and booked $52 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol PMEC. Primech Holdings filed confidentially on November 24, 2021. Tiger Brokers is the sole bookrunner on the deal. No pricing terms were disclosed.