PTL Limited Announces Pricing of $5 million Initial Public Offering and Listing on Nasdaq

Quick Summary:

Hong Kong, Oct.15, 2024 (GLOBE NEWSWIRE) -- PTL Limited (NASDAQ:PTLE) (the "Company"), an established bunkering facilitator providing marine fuel logistics services for vessel refueling, serving the Asia Pacific market, today announced the pricing of its initial public offering (the "Offering") of 1,250,000 ordinary shares (the "Ordinary Shares"), at a price of $4.00 per Ordinary Share (the "Offering Price").

In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 187,500 Ordinary Shares of the Company, at the Offering Price, representing 15% of the Ordinary Shares sold in the Offering (the "Over-allotment"),.

Assuming that the Over-allotment is exercised, the Company is expected to receive gross proceeds amounting to $5.75 million, before deducting underwriting discounts and commissions and estimated offering expenses.

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Article Details

Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United StatesChinaHong Kong

Topics: Press Releases News PTLE IPOs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-15 @ 20:30:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 850 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23079465

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