Singapore infrastructure services firm Vistek increases proposed US IPO deal size to $31 million
IPO Overview
Vistek, which provides cable laying services for power networks and telecoms in Singapore, raised the proposed deal size for its upcoming IPO on Tuesday.
The Singapore-based company now plans to raise $31 million by offering 6.3 million shares （40% secondary） at a price range of $4 to $6. The company had previously filed earlier this year to raise $19 million by offering 3.8 million shares （30% secondary） at the same range, and originally filed in January 2025 to raise $10 million. At the midpoint of the range, Vistek will raise roughly 66% more in proceeds than previously anticipated, and command a market value of $120 million.
Vistek was founded in 2017 and booked $19 million in sales for the 12 months ended August 31, 2025. It plans to list on the Nasdaq under the symbol VTEK. Bancroft Capital is the sole bookrunner on the deal.
About the Company
Our mission is to offer comprehensive cabling solutions to telecommunication and power network operators in Singapore in a timely, reliable and cost-effective manner. We strive to transform every business opportunity into a success by building effective services and processes across the project chain, aiming to be a one-stop solution for the execution of work orders under the contract awarded. Founded in 2017, we have grown and expanded our business from cabling services to also serve power network operators. We, through our subsidiary Vistek SG, are a cabling service provider that specializes in telecommunications and power infrastructure works in Singapore. Our Executive Directors and Executive Officers collectively have over twenty years of industry experience and based on this collective experience, we believe our brand’s reputation is positively attributable to our humble beginnings when we started contracting to complete cable laying projects for telecommunication network operators in Singapore. We endeavor to assist telecommunication and power network operators in Singapore through cable laying projects as well as providing other ancillary services, including maintenance projects, connecting underground fiber optic network to aboveground premises and installation of Wireless Fidelity （Wi-Fi） networks.
