Singapore tech company Skubbs (SKUB.US) raises IPO issuance scale, fundraising amount increases by 178% to $25 million

According to Jinse Finance APP, Singapore-based application development and platform advertising service provider Skubbs Holdings raised its IPO offering size last Friday. The company now plans to issue 5 million shares (with 20% being secondary offerings) at a price of $4.50 to $5.50 per share, aiming to raise $25 million. Previously, the company applied to issue 2 million shares at a price of $4 to $5 per share. Based on the midpoint of the revised price range, Skubbs Holdings' fundraising will increase by 178% compared to previous expectations, and its market capitalization will reach $78 million.

The company generates revenue from two main business lines through its Singapore-based operating subsidiary: first, IT solutions, including development, maintenance, and support services for web and mobile applications; second, platform advertising services, provided through its online marketplace platform Dee-Market launched in 2022. Since its establishment, Skubbs has developed over 800 mobile and web applications for clients across industries such as healthcare, technology, and financial services.

Skubbs Holdings was founded in 2013 and achieved $3 million in revenue for the twelve-month period ending December 31, 2025. The company plans to list on Nasdaq or the NYSE American, with the stock ticker SKUB. Blue Diamond Securities of America is the sole underwriter for this transaction.