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HomeBreaking News: Singapore-based Ohmyhome to offer 3.25 million shares in IPO, priced at...

: Singapore-based Ohmyhome to offer 3.25 million shares in IPO, priced at $4 to $5 each

'Quick read' news summary

Ohmyhome Ltd. OMH, , a Singapore-based company that calls itself a property technology provider, set terms for its initial public offering on Friday with plans to offer 3.25 million shares, priced at $4 to $5 each. With 19.5 million shares expected to be outstanding after the deal is completed, the company would have a valuation of $97.5 million at the top of that range. Ohmyhome has applied to list on Nasdaq, under the ticker “OMH.” Spartan Capital Securities is sole underwriter on the deal. Proceeds will be used to expand in Southeast Asia, for R&D, for marketing, to repay loans and for working capital and other general corporate purposes. The company had a net loss of $661,306, or 4 cents a share, in the six months through June 30 on revenue of $2.4 million. “Through our subsidiaries, we operate a one-stop-shop property platform which provides end-to-end property solutions and services for our customers, which comprises brokerage services and emerging and other services, such as home renovation and furnishing services, listing and research, mortgage referral, legal services and insurance referral services,” says the company’s IPO documents. The Renaissance IPO ETF IPO, -2.77% has fallen 53% in the last 12 months, while the S&P 500 SPX, -1.16% has fallen 19%.

Ohmyhome Ltd. OMH, , a Singapore-based company that calls itself a property technology provider, set terms for its initial public offering on Friday with plans to offer 3.25 million shares, priced at $4 to $5 each. With 19.5 million shares expected to be outstanding after the deal is completed, the company would have a valuation of $97.5 million at the top of that range. The company had a net loss of $661,306, or 4 cents a share, in the six months through June 30 on revenue of $2.4 million.

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