ismagilov
Singapore-based Davis Commodities (DTCK) has filed for a US$17 million IPO.
Davis said he did not specify in his filing how many shares he intended to offer or the price, but did specify in his filing fee Time schedule that it was trying to raise around $17 million.
The Company intends to list its shares on the Nasdaq or NYSE American under the symbol DTCK. Univest Securities is acting as Lead Bookrunner.
Davis is an agricultural commodities trading company specializing in sugar, rice and oil/fat products. The company sells goods in over 20 nations, mainly in Asia and Africa, and offers its customers logistics and warehousing services. Sugar accounted for 70% of its sales in 2021.
The company is profitable. For the six-month period ended June 30, Davis reported earnings of $1.2 million on total revenue of $101 million.
Singapore-based company Tungray (TRSG) also filed for an IPO on Friday to raise $13 million.
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