Singapore-based property marketplace OhMyHome has made its public debut on Nasdaq at $4.0 U.S. per share, giving it a valuation of $88 million U.S., under the symbol “OMH.”
The IPO — during which the company raised $11.2 million U.S. from the issue of some 3.6 million ordinary shares — comes after it recorded $2.4 million U.S. in revenue during the first six months of 2022, up by 35.5% year on year. Of the shares, 2.8 million were released by the property marketplace itself and the other 975,000 sold by stockholders.
Following its listing in the U.S., the marketplace says that it is aiming to become a property “super app” to support customers’ journeys, from selling via marketing until the final maintenance.
The move will expand the market in Southeast Asia, according to OhMyHome, as the company wants to use the proceeds to develop its products, put together interest-free loans for working capital and other general corporate purposes.