SAG Holdings Boosts Shares Ahead of $8 Million US IPO

SAG Holdings Boosts Shares Ahead of $8 Million US IPO

26 Sep, 2024

SAG Holdings Boosts Shares Ahead of $8 Million US IPO

SAG Holdings, a Singapore-based distributor of automotive and industrial parts, has announced an increase in its upcoming IPO size. The company plans to raise $8 million by offering 1 million shares at a proposed price of $8 each. This revision marks a 14% increase in anticipated proceeds compared to previous plans, which aimed to offer 0.9 million shares at the same price. With this new deal size, SAG Holdings will command a market capitalization of $80 million upon listing.

Established in 1975, SAG Holdings specializes in distributing OEM, third-party branded, and in-house branded replacement parts for both motor vehicles and non-vehicle combustion engines. The company operates mainly in Singapore and generates global sales predominantly from markets in the Middle East and Asia. Its On-Highway Business focuses on parts for passenger and commercial vehicles, while the Off-Highway Business caters to industrial sectors, including marine, energy, and mining.

SAG Holdings is led by the Neo family, with brothers Jimmy and Edward Neo serving as CEO and Deputy CEO, respectively. The company plans to list on the Nasdaq under the ticker symbol SAG, with Wilson-Davis & Co. and Dominari Securities acting as joint bookrunners for the IPO.

 

 


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