Ultratrex (UTX) expects to raise $6.50 million in an IPO on the week of October 13th, IPO Scoop reports. The company will be issuing 1,300,000 shares at a price of $4.00-$6.00 per share.
In the last twelve months, Ultratrex generated $20.70 million in revenue and $4.15 million in net income. The company has a market cap of $106 million.
Craft Capital Management served as the underwriter for the IPO.
Ultratrex provided the following description of their company for its IPO: “(Incorporated in the Cayman Islands)Â We make marine environmental cleanup and dredging machinery. We provide environmental solutions that rely on amphibious machinery, aquatic weed harvesters and dredgers. Environmental cleanup projects, habitat restoration and land reclamation make up most of our projects. We serve customers mostly in Southeast Asia, the Middle East and some parts of Europe. Note: Net income and revenue are in U.S. dollars for the 12 months that ended on June 30, 2024. (Note: Ultratrex is offering 1.25 million shares at a price range of $4.00 to $6.00 to raise $6.25 million, according to its F-1/A filings.) “.
Ultratrex was founded in 2008 and has 182 employees. The company is located at 220 Orchard Road Unit 05-02, Midpoint Orchard Singapore 238852 and can be reached via phone at +65 6235 3388.
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