DAVIS COMMODITIES Ltd

DAVIS COMMODITIES Ltd (DTCK) priced its initial public offering on Sep 20, 2023 at $4.00 per share, within its $4.00–$4.50 range, raising $4.3M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $97.3M. Univest was lead-left underwriter. Hunter Taubman Fischer & Li, Conyers Dill & Pearman and Rajah & Tann advised the company.

Davis Commodities Ltd is a Singapore-based agricultural commodity trading company specializing in sugar, rice, and oil and fat products. It distributes to markets in Asia, Africa and the Middle East and offers ancillary warehouse handling, storage and logistics services through an asset-light model.

Status

IPO

Ticker

DTCK

Exchange

Nasdaq Capital Market

Priced

Sep 20, 2023

IPO price

$4.00

Price range

$4.00–$4.50

Raised

$4.3M

Market cap at IPO price

$97.3M

First filed

Mar 9, 2023

Underwriters

Univest

Company counsel

Hunter Taubman Fischer & Li, Conyers Dill & Pearman and Rajah & Tann

Sector

Consumer

Country / state

Singapore

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.