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Homecompanies marketsSingapore proptech start-up Simpple lists on Nasdaq, prices IPO shares at US$5.25...

Singapore proptech start-up Simpple lists on Nasdaq, prices IPO shares at US$5.25 apiece

SINGAPORE – Property technology company Simpple has priced some 1.6 million ordinary shares for its initial public offering (IPO) at US$5.25 (S$7.14) apiece, the firm announced on Wednesday.

The counter started trading on the Nasdaq Capital Market on Wednesday night under the ticker symbol “SPPL”.

As at 11.55pm (Singapore time), the counter was trading at US$5.24, after having reached a high of US$5.70 and a low of US$4.90, according to the Nasdaq website.

Headquartered in Singapore, Simpple provides a smart facilities management solution which includes an automated workforce management tool for building maintenance, surveillance and cleaning.

The start-up said it raised about US$8.4 million from the flotation, and plans to use the proceeds for purposes including research and development, intellectual property strategy and implementation, scaling up for overseas markets and potential acquisitions and strategic investments.

Founder and chief executive Aloysius Chong said: “We are excited about the opportunities ahead and remain committed to delivering cutting-edge solutions that make a positive impact.”

Founded in 2016, Simpple serves over 60 clients in the public and private sectors in the Singapore facilities management market. It said it is expanding into Australia and the Middle East. THE BUSINESS TIMES

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