The IPO Buzz: Springview Holdings (SPHL) Prices Slightly Upsized IPO at $4 – Low End

Springview Holdings Ltd. (SPHL), the parent of a profitable Singapore residential and commercial builder, priced its micro-cap IPO at $4.00 – the low end of its range – after slightly upsizing the deal to 1.5 million shares – up from 1.25 million shares in the prospectus – to raise $6.0 million on Wednesday night, Oct. 16, 2024. Springview Holdings’ IPO is expected to start trading today – Thursday, Oct. 17, 2024 – on the NASDAQ.  AC  Sunshine Securities, a woman-owned firm, was the sole book-runner. Springview Holdings Ltd., based in Singapore, designs and builds residential and commercial buildings in Singapore, according to the prospectus. The company was founded in 2002. “We are involved in new construction, which includes demolition of an existing house to clear the site for a new house; reconstruction, which includes the replacement of a major part of a house; or additions and alterations, in which we make minor modifications to an existing house,” the prospectus said. Most of Springview’s revenue comes from projects for residential customers, according to the prospectus. Of the US$10.82 million in revenue for 2023, the company booked US$8.78 million in revenue from projects contracted with residential customers, while it received US$1.33 million in revenue from an additions and alterations project for a shophouse and a design consultancy service for commercial customers, the prospectus said. Springview Holdings Ltd. is profitable. For the year that ended Dec. 31, 2023, Springview Holdings Ltd. reported net income of $1.81 million on revenue of $10.82 million. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.