SINGAPUR (dpa-AFX) - Ten-League International Holdings Ltd., a Singapore-based provider of turnkey project solutions, announced Tuesday the pricing of its initial public offering of 2.24 million ordinary shares at a public offering price of US$4.00 per ordinary share.
The offering comprises of 1.61 million ordinary shares being offered by the Company and 632,160 by selling shareholders.
The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 08, 2025 under the ticker symbol 'TLIH.'
The Company expects to receive aggregate gross proceeds of US$6.43 million from the Offering, before deducting underwriting discounts and other related expenses. The offering is expected to close on or about July 09, 2025, subject to the satisfaction of customary closing conditions.
The proceeds from the offering will be used for: (i) expanding the Company's product offering; (ii) improving the Company's automation process and investing in equipment and technology; (iii) expanding through strategic targeted acquisitions and investments; (iv) marketing and brand building; (v) repayment of bank borrowing, and (vi) working capital and other general corporate purposes.
The Offering is being conducted on a firm commitment basis. Bancroft Capital, LLC is acting as the sole underwriter for the Offering.
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