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Cleaning Systems And Equipment Provider JE CLEANTECH HOLDINGS Files and Set Terms of $15 Million US IPO
2022-03-11

Esther Thin

JE Cleantech Holdings Ltd, a cleaning systems and equipment provider, has filed Form F-1 Registration Statement on March 10, 2022 with the U.S. Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $15 million by offering 3.8 million shares at a price of $4. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $60 million.

The company is based in Singapore and is principally engaged in the sale of cleaning systems and other equipment; and the provision of centralized dishwashing and ancillary services. The business started in 2006 and we design, develop, manufacture and sell cleaning systems for various industrial end-use applications to customers mainly in Singapore and Malaysia.

The Singapore-based company was founded in 1999 and booked $18 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq Capital Market, although it has yet to select a ticker (RC ticker: JECT.RC). ViewTrade is the underwriter of the IPO.

The company engages Schlueter & Associates as US Securities Counsel, and WWC, P.C. as Independent Auditor.

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