Malaysian wire/cable harness manufacturer and supplier Linkers Industries submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission on Tuesday, planning to raise $11 million.
According to Zhitong Finance, Linkers Industries (LNKS.US), a Malaysian manufacturer and supplier of wire/cable harnesses, submitted its initial public offering (IPO) application to the US Securities and Exchange Commission on Tuesday, planning to raise $11 million. Linkers had previously applied for IPO in the US in December 2023, but withdrew the application last Friday. The company plans to issue 2.2 million shares of stock at a price of $4 to $6 per share, raising $11 million. Based on the midpoint of the proposed range, Linkers Industries' market cap will reach $67 million.
Through its operating subsidiary, Linkers Industries manufactures and supplies wire/cable harnesses, which tie wires/cables together with ties, cable straps and electrical tapes for signal or power transmission. Its clients include global branded manufacturers and original equipment manufacturers in the Asia-Pacific region's home appliances, industrial products, and autos industries.
Linkers Industries, which was established in 1995, had revenue of $6 million for the twelve months ended December 31, 2023. The company plans to list on the NASDAQ. Revere Securities and R.F. Lafferty & Co. are joint book-running managers for the offering.