Singapore semiconductor service provider Suchness Tech (SUCH.US) has set its IPO price at $5-7 per share, aiming to raise $30 million.

Suchness Tech, which provides specialized materials and engineering services for semiconductor wafer manufacturing plants, announced its initial public offering (IPO) terms on Monday. The company plans to issue 5 million shares at a price range of $5 to $7 per share, aiming to raise $30 million. The company intends to list on NASDAQ under the ticker symbol "SUCH." Founded in 2004 and headquartered in Singapore, Suchness Tech primarily serves multinational wafer foundries and memory chip manufacturers operating wafer manufacturing facilities in Singapore. Data shows that the company is projected to achieve revenue of $20 million in the 12 months ending December 31, 2025. The company operates through its two subsidiaries located in Singapore, supplying material and facility support services to semiconductor wafer manufacturing plants. AP Engineering Solutions is responsible for distributing high-purity specialty chemicals and gases, including precursor chemicals, doping gases, and laser gases, which are used in chemical vapor deposition (CVD), atomic layer deposition (ALD), photolithography, and etching processes; the company also provides on-site maintenance and engineering support services for processing equipment and gas delivery systems. The other subsidiary, Quantum Services, is responsible for designing, integrating, and installing gas waste management systems for the piping systems of semiconductor wafer plants, as well as providing maintenance services for waste treatment systems, ozone generators, and interlock systems. The company's customers are mainly multinational wafer foundries and memory chip manufacturers operating wafer manufacturing facilities in Singapore.