OrangeKloud Technology Inc. Prices IPO at $4.00-$5.00 Per Share (ORKT)

OrangeKloud Technology Inc. (ORKT) is planning to raise $9 million in an initial public offering (IPO) on Thursday, March 28th, IPO Scoop reports. The company plans to issue 2,000,000 shares at $4.00-$5.00 per share.

In the last 12 months, OrangeKloud Technology Inc. generated $5.2 million in revenue and $480,000 in net income. The company has a market cap of $99.5 million.

Maxim Group served as the underwriter for the IPO.

OrangeKloud Technology Inc. provided the following description of their company for its IPO: “(Incorporated in the Cayman Islands)  Based in Singapore, we supply software development services to small and medium-sized enterprises (SMEs) in Singapore and Malaysia through our operating subsidiaries:  MSC Consulting Orangekloud Singapore MSCI Consulting  (Note: OrangeKloud Technology Inc. cut the size of its small-cap IPO by a third – or 33 percent – to 2.0 million shares – down from 3.0 million shares – and kept the price range at $4.00 to $5.00 – to raise $9.0 million, according to an S-1/A filing dated March 21, 2024. Background: OrangeKloud Technology Inc. filed its S-1 on Feb. 20, 2024, in which it disclosed terms for its small-cap IPO: 3.0  million shares at a price range of $4.00 to $5.00 to raise $13.5 million.) “.

OrangeKloud Technology Inc. was founded in 2003 and has 67 employees. The company is located at 1 Yishun Industrial Street 1 #04-27/28&34 Aposh Building Bizhub Singapore, 768160 and can be reached via phone at +65 6317 2050 or on the web at http://www.msc-consulting.com.sg/.

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