Dow Jones Newswires: Simpple cuts size of its IPO, sets price at low end of range

Simpple reduced the number of shares it is issuing as part of its initial public offering, and disclosed the price of the offering.

The Singapore-based property-technology company is issuing 1.60 million shares at a price of $5.25 each, according to a U.S. Securities and Exchange Commission filing on Tuesday.

Simpple plans to use proceeds from the offering toward research and development of products and technology, as well as intellectual property strategy and implementation, among other purposes.

Two months ago, the company said it would offer 1.63 million ordinary shares at an estimated price of $5 to $6 each.

On June 6, Simpple filed for an IPO to list that same number of shares on the Nasdaq Capital Market, under the symbol SPPL, at a price range of $4 to $5 per share.

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