Bird & Bird ATMD advises OrangeKloud Technology on NASDAQ Listing
Bird & Bird ATMD has successfully advised MSC Consulting (S) Pte. Ltd. as Singapore counsel for the initial public offering (IPO) of its parent company, OrangeKloud Technology Inc., to list on the NASDAQ Capital Market.
OrangeKloud is a Singapore-based, no-code Rapid Mobile Application Development Platform (RMAD) provider for enterprises of different sizes. The company raised approximately US$15 million under the IPO through the issuance of 2.75 million shares at a price of US$4.75 apiece, plus an additional 409,000 shares at a price of US$0.001 each via the overallotment option.
OrangeKloud will use the funds for acquisitions and strategic investments in complementary businesses or technologies; continued investments in research and development; as well as for general corporate purposes. This marks a significant milestone in OrangeKloud’s growth journey and commitment to accessible technology.
The Bird & Bird ATMD team included corporate partner Marcus Chow and associate Eu Shae-Yenne.
Lead Partner Marcus commented, “We are pleased to have been a part of the journey to support a Singapore-based firm in listing on NASDAQ, setting a beacon for local tech startups. This transaction highlights Bird & Bird’s expertise in assisting companies looking to list in foreign markets especially in the tech sector.”
The official press release by NASDAQ can be found here.