Ultratrex (UTX) is set to launch its initial public offering (IPO) during the week of January 5, 2025, with plans to raise $6.50 million. The company will issue 1.3 million shares priced between $4.00 and $6.00 per share. This move comes as Ultratrex looks to further expand its operations in the marine environmental cleanup sector.
Founded in 2008, Ultratrex specializes in manufacturing marine environmental cleanup and dredging machinery. The company reported revenues of $17.20 million and a net income of $2 million for the fiscal year ending December 31, 2024. With a current market capitalization of $106 million, Ultratrex has established itself as a key player in environmental solutions, primarily serving clients in Southeast Asia, the Middle East, and select regions in Europe.
Business Operations and Strategy
Ultratrex’s operations focus on environmental cleanup projects, habitat restoration, and land reclamation. The company utilizes amphibious machinery, aquatic weed harvesters, and dredgers as part of its innovative approach to providing effective environmental solutions.
According to the company’s filings, they are offering 1.25 million shares within the same price range to raise a total of $6.25 million. Craft Capital Management is acting as the underwriter for the IPO, helping facilitate this significant financial undertaking.
Company Background and Contact Information
The company is incorporated in the Cayman Islands and operates out of 220 Orchard Road Unit 05-02, Midpoint Orchard, Singapore 238852. Ultratrex currently employs 182 people and has established a robust presence in its industry over the past 15 years.
For more information, Ultratrex can be reached at +65 6235 3388 or through their website at https://www.ultratrex.com/. Through this IPO, Ultratrex aims to strengthen its market position and enhance its capabilities in addressing environmental challenges globally.
