KUALA LUMPUR, Feb 5 (Bernama) -- Uni-Fuels Holdings Limited (Uni-Fuels) has announced that its underwriter has fully exercised its over-allotment option, purchasing an additional 315,000 Class A Ordinary Shares at US$4.00 per share. (US$1=RM 4.42)
This generated an additional US$1.26 million in gross proceeds, bringing the total offering to 2,415,000 shares and the total amount raised in its initial public offering (IPO) to US$9.66 million, before deducting underwriting discounts and commissions.
According to a statement, the company's shares began trading on Nasdaq Capital Market on Jan 14 under the ticker symbol “UFG”.
Uni-Fuels intends to use the proceeds from the IPO for scaling up its reselling activities to gain market share from existing and new markets; strengthening its workforce and expanding its market presence in new geographical locations; and as cash reserve and for general corporate purposes.
R. F. Lafferty & Co Inc acted as the sole book-running manager for this firm commitment offering.
Founded in 2021, Uni-Fuels is a fast-growing global provider of marine fuel solutions, helping shipping companies optimise fuel procurement across all markets and time zones.
Backed by a passionate team and a growing presence across multiple locations, it has forged trusted partnerships with customers, supporting them in achieving their operational objectives with confidence, from shore to shore.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
