Singapore tech company Skubbs (SKUB.US) has raised its IPO offering size, increasing the fundraising amount by 178% to $25 million.

The Singapore-based application development and platform advertising service provider Skubbs Holdings raised the scale of its IPO last Friday. The company now plans to issue 5 million shares at a price of $4.50 to $5.50 per share (with 20% being a secondary offering), raising $25 million. Previously, the company had applied to issue 2 million shares at a price of $4 to $5 per share. Based on the midpoint of the revised price range, Skubbs Holdings' fundraising will increase by 178% compared to prior expectations, with a market value of $78 million. The company generates revenue through its Singapore-based operating subsidiary from two main business lines: first, IT solutions, which include development, maintenance, and support services for web and mobile applications; second, platform advertising services, provided through its online marketplace platform Dee-Market launched in 2022. Since its establishment, Skubbs has developed over 800 mobile and web applications for clients in various industries, including healthcare, technology, and financial services. Skubbs Holdings was founded in 2013 and achieved a revenue of $3 million in the 12 months ending December 31, 2025. The company plans to list on NASDAQ or the New York Stock Exchange (American board), with the stock code SKUB. Blue Diamond Securities of America is the sole underwriter for this transaction.