New Century Logistics Prices $6 Million Initial Public Offering

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HONG KONG, Dec.18, 2024 (GLOBE NEWSWIRE) -- New Century Logistics (BVI) Limited ("New Century" or the "Company"), an international freight forwarding company and logistics service provider, announces the pricing of its initial public offering of 1,500,000 ordinary shares at a public offering price of $4.00 per share (the "Offering") for total gross proceeds of $6,000,000, before deducting underwriting discounts and other related expenses.   The Company's ordinary shares have been approved for listing on the Nasdaq Capital Market.

The Company has granted the underwriters a 45-day option to purchase up to an additional 225,000 ordinary shares at the public offering price, less underwriting discounts, to cover over-allotments, if any.

The Company intends to use the net proceeds from the offering for business expansion, technology innovation, enhancement of warehousing and distribution capabilities, personnel recruitment, and general working capital.

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Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United StatesHong Kong

Topics: IPOs Press Releases News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 13:30:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 847 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 24537445

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