Singapore’s Y Ventures Group will launch an IPO this week seeking to raise up to S$7.7 million to fund research and development, boost its product range and increase advertising.

Other funds will be devoted to exploring new markets and general working capital purposes, according to its prospectus.

Y Ventures Group, which describes itself as a data-driven e-commerce retailer and distributor, will list on the Singapore Exchange’s Catalist board. The IPO offer closes on July 7 and trading will commence on July 11.

The e-commerce business sells a curated offer of about 5500 products on 24 marketplaces – including Amazon, eBay, Qoo10, Lazada and Shopee – spanning nine countries. It was founded in 2004.

The company is majority-owned by Adam Low Yik Sen, its MD, and Alex Low Yi Ji, its CEO, who will each hold about 35.6 per cent of the business post-listing. Last year it reported revenue of $12 million.