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SINGAPORE - Magnitude International Ltd, a Singapore-based electrical installation service provider, has priced its initial public offering at $4.00 per share, the company announced Monday. According to InvestingPro analysis, the company enters the market with attractive valuation metrics, trading at both a low Price/Book multiple and P/E ratio relative to near-term earnings growth.
The offering consists of 2,200,000 ordinary shares, with the company offering 1,650,000 shares and an existing shareholder selling 550,000 shares. The IPO is expected to raise gross proceeds of $8.8 million before deducting underwriting discounts and offering expenses.
Magnitude’s shares are scheduled to begin trading on the Nasdaq Capital Market on Tuesday under the ticker symbol "MAGH." The offering is expected to close on or about August 13, subject to customary closing conditions.
The company plans to use the proceeds for strategic acquisitions, purchasing materials, workforce expansion, relocating to larger facilities, digitalizing systems, and working capital. For deeper insights into Magnitude’s financial health and growth potential, InvestingPro subscribers have access to 5 additional exclusive ProTips and comprehensive valuation metrics.
Founded in 2012, Magnitude International provides electrical installation services to both private and public sectors in Singapore, including installation of generators, transformers, and solar panel systems. The company primarily serves as the main electrical contractor in construction projects. InvestingPro data reveals the company maintains a strong financial position, holding more cash than debt on its balance sheet, with liquid assets exceeding short-term obligations. The company has been profitable over the last twelve months, and analysts expect continued profitability this year.
Bancroft Capital, LLC is acting as the sole underwriter for the offering, which is being conducted pursuant to the company’s registration statement that was declared effective by the SEC on July 30, 2025.
The company stated in its press release that it will not receive any proceeds from the shares being sold by the existing shareholder.
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