Powell Max Limited Prices $5.707M Initial Public Offering Of 1,426,750 Class A Ordinary Shares At A Price Of $4/Share
Benzinga Newsdesk 2 years ago
NewsIPOs
Powell Max Limited (NASDAQ:PMAX) (the "Company" or "Powell Max"), a financial communications services provider headquarted in Hong Kong, today announced the pricing of its initial public offering (the "Offering") of
Powell Max Limited (NASDAQ:PMAX) (the "Company" or "Powell Max"), a financial communications services provider headquarted in Hong Kong, today announced the pricing of its initial public offering (the "Offering") of 1,426,750 Class A Ordinary Shares (the "Shares") at a public offering price of $4 per Share. The Company expects to receive aggregate gross proceeds of $5,707,000 from the Offering, before deducting underwriting discounts and other offering expenses. In addition, the Company has granted the Underwriter a 45-day option to purchase up to an additional 214,012 Shares at the public offering price, less underwriting discounts.
The Shares are expected to being trading on the Nasdaq Capital Market on September 5, 2024, under the symbol "PMAX." The Offering is expected to close on September 6, 2024, subject to customary closing conditions.
The Company intends to use the net proceeds from the Offering for setting up overseas business entities, branches and offices, potential mergers and acquisitions, repayment of bank loans and for working capital and general corporate use.