Singapore-based application developer and platform advertising provider Skubbs Holdings has increased the size of its proposed US initial public offering (IPO) last Friday. The company now plans to offer 5 million shares (20% of which are a secondary offering) at a price range of $4.50 to $5.50 per share, aiming to raise approximately $25 million. This marks a significant expansion from its earlier filing, which sought to sell 2 million shares at $4 to $5 each.

Based on the midpoint of the revised price range, Skubbs Holdings is expected to secure 178% more capital than previously projected, reaching a market valuation of about $78 million. The company generates revenue through two primary business lines via its operating subsidiaries in Singapore: IT solutions, which encompass the development, maintenance, and support of web and mobile applications, and platform advertising services delivered through its online marketplace, Dee-Market, launched in 2022.

Since its inception, Skubbs has developed over 800 mobile and web applications for clients across various sectors, including healthcare, technology, and financial services. Founded in 2013, the company reported revenue of $3 million for the 12 months ending December 31, 2025. Skubbs Holdings plans to list on the Nasdaq or the NYSE American exchange under the ticker symbol SKUB, with Blue Diamond Securities of America serving as the sole underwriter for the offering.