Avepoint, which is already listed on the Nasdaq, is looking to raise around $259 million in a secondary listing on the Singapore Exchange.
The software company plans to offer 13.29 million vendor shares at $19.50 each, and its underwriters have an option to buy another 1.99 million shares.
AvePoint's Nasdaq-quoted shares closed at US$15.75 on Sept 15, or $20.10. It is down 6.42% year to date.
The principal purpose of the offering is to create a market for AvePoint’s common stock on the SGX, says the company in a statement.
Trading will start on Sept 19. AvePoint will not receive any proceeds from the offering.
Jefferies, Morgan Stanley, Oversea-Chinese Banking Corporation and UBS Securities are joint global coordinators and joint bookrunners for this offering.
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In its most recent 2QFY2025 ended June it reported earnings of US$2.7 million, versus a net loss of US12.8 million in the year earlier.
Revenue in the same period was US$102 million, up 31% y-o-y.
As of June 30, cash, cash equivalents and short-term investments was at US$430.1 million.
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In a previous interview with The Edge Singapore, Tianyi Jiang, CEO and co-founder of AvePoint, maintains that the adage “garbage in, garbage out” is a crucial reminder that data management is foundational to artificial intelligence (AI).
“AI is only as good as the data you feed it with. So, data quality, data governance and data lifecycle management [which oversees data from its point of origin to its eventual deletion] are relevant and important to every company that wants to deploy and use AI,” he says.
