Singapore proptech company Simpple prices Nasdaq IPO at US$5.25 a share

PROPTECH company Simpple has priced some 1.6 million ordinary shares for its initial public offering (IPO) at US$5.25 apiece.

The counter started trading on the Nasdaq Capital Market on Wednesday (Sept 13) under the ticker symbol “SPPL”, announced the Singapore-headquartered technology-solution provider in the property-technology space on Wednesday.

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, indicated the Nasdaq website.

The company expects gross proceeds of 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.

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.