Singapore infrastructure service provider Vistek (VTEK.US) increases IPO size by 66%, aiming to raise $31 million.

Singaporean power and communication network cable laying service provider Vistek (VTEK.US) has increased the planned fundraising size for its upcoming IPO in the United States on Tuesday. The Singapore-based company is now planning to issue 6.3 million shares of stock (with 40% as secondary selling shares), at a price range of $4-6 per share, aiming to raise $31 million. Earlier this year, the company had applied to issue 3.8 million shares (with 30% as secondary selling shares) at the same price, raising $19 million; it initially submitted an IPO application in January 2025, planning to raise $10 million. Based on the midpoint of the price range, Vistek's fundraising amount this time will be about 66% higher than previously expected, with a market value of $120 million after listing. Established in 2017, Vistek had revenue of $19 million in the 12 months ending on August 31, 2025. The company plans to list on the Nasdaq under the ticker symbol VTEK, with Bancroft Capital serving as the exclusive underwriter for this IPO.