SINGAPORE – Magnitude International Ltd (MAGH), a Singapore-based provider of electrical installation services, announced it has priced its initial public offering of 2.2 million ordinary shares at $4.00 per share. The offering is expected to raise total gross proceeds of $8.8 million before deducting underwriting discounts and offering expenses.
The company’s shares are slated to begin trading on the Nasdaq Capital Market on or about August 12, 2025, under the ticker symbol “MAGH.” The offering is anticipated to close around August 13, 2025, subject to customary closing conditions.
The offering consists of 1.65 million ordinary shares offered by Magnitude International and 550,000 shares offered by an existing shareholder. The company stated it will not receive any proceeds from the shares sold by the selling shareholder.
Magnitude plans to allocate the net proceeds to fuel significant expansion and operational upgrades. The funds will support growth through strategic acquisitions and joint ventures, the purchase of materials, and an expansion of its workforce. The company also intends to relocate to a larger headquarters with additional storage facilities, secure bigger dormitory space for its foreign workers, and invest in digitalizing its business through new enterprise resource planning (ERP) and human resource systems.
Founded in 2012, Magnitude International provides electrical installation services for both the private and public sectors. Its services include the installation of generators and transformers, complete property rewiring, and the installation of solar panel systems. The company often acts as the main electrical contractor on new and existing construction developments.
Bancroft Capital LLC is serving as the sole underwriter for the IPO. The company’s registration statement on Form F-1 was declared effective by the U.S. Securities and Exchange Commission on July 30, 2025.
