Singapore ship maintenance supplier APEX Global Solutions (APEX.US) plans to price its IPO at $4-5 per share, aiming to raise $7 million US dollars.

Singapore shipyard corrosion and surface treatment service provider APEX Global Solutions (APEX.US) disclosed details of its initial public offering on Monday. The company, headquartered in Singapore, plans to issue 1.5 million shares of stock in the price range of $4 to $5 per share, with an expected total fundraising amount of about $7 million. Based on the mid-point of the price range, the market value will reach $119 million. As a supplier specializing in ship corrosion, surface treatment, and maintenance solutions, APEX Global Solutions provides services such as hydraulic jetting and sandblasting for surface cleaning, professional coating and painting construction, and maintenance and repair services for vessels docking at piers or sailing on the open sea, while also providing manpower support for offshore operations. The company's main customers are concentrated in local shipyards in Singapore, where it has been operating continuously in this field since its establishment in 2009. Financial data shows that the company generated revenue of $7 million in the 12-month period ending on December 31, 2024. This IPO will be listed on the Nasdaq Stock Exchange under the ticker symbol "APEX." US UP Fintech Holding Ltd. Sponsored ADR Class A will serve as the sole bookrunner for this offering.