PropTech company SIMPPLE debuts in Nasdaq

The SG-based company priced its IPO at US$5.25 per ordinary share.

Singapore-based PropTech company, SIMPPLE, raised US$8.4m from its Initial Public Offering (IPO) on the Nasdaq Stock Market.

SIMPPLE began trading on Nasdaq under the ticker symbol “SPPL” on 13 September.

It issued 1,602,000 ordinary shares for US$5.25 per share.

In an announcement, SIMPPLE said it will use the funds raised from the IPO for “research and development of products and technology.”

Funds will also be used for the company’s “intellectual property strategy and implementation, scaling up sales and marketing into overseas markets and for opening selected satellite offices, potential acquisitions and strategic investments and working capital and general corporate purposes.”

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