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Magnitude International Ltd (MAGH) priced its initial public offering at $4.00 per share, the Singapore-based electrical installation service provider announced. The offering consists of 2.2 million ordinary shares for total gross proceeds of $8.8 million before deducting underwriting discounts and offering expenses.
The company is offering 1.65 million ordinary shares while an existing shareholder is selling 550,000 shares. Magnitude will not receive proceeds from the shares sold by the existing shareholder.
Trading on the Nasdaq Capital Market is expected to begin August 12, 2025, under the ticker symbol "MAGH." The offering is expected to close around August 13, 2025, subject to customary closing conditions.
Magnitude plans to use net proceeds for expansion through strategic acquisitions, joint ventures or strategic alliances, purchasing materials, workforce expansion, relocating to larger headquarters with additional storage facilities, and renting bigger dormitory space for foreign workers. The company also intends to digitalize systems, upgrade equipment, and invest in enterprise resource planning and human resource systems, along with working capital and general corporate purposes.
Bancroft Capital LLC serves as sole underwriter for the offering. The company’s registration statement on Form F-1 was declared effective by the Securities and Exchange Commission on July 30, 2025.
Founded in 2012, Magnitude provides electrical installation services to private and public sectors, including generator and transformer installation, rewiring, and solar panel system installation. The company serves as main electrical contractor in construction projects across greenfield and brownfield developments.