Concorde International Group Announces Pricing of $5,000,000 Initial Public Offering

Rhea-AI Summary

Concorde International Group (NASDAQ: CIGL), a security services provider combining physical manpower and technology, has announced the pricing of its Initial Public Offering of 1,250,000 Class A ordinary shares at $4.00 per share.

Trading is set to commence on April 22, 2025, on the Nasdaq Capital Market under 'CIGL'. The company expects to raise $5.0 million in gross proceeds, with underwriters having a 45-day option to purchase an additional 187,500 shares.

The IPO proceeds will fund:

• Purchase of electric vehicular mobile command centers
• Research and development activities
• Regional market development
• Product development
• Working capital and general corporate purposes

R.F. Lafferty & Co. is serving as the sole book-running manager for this firm commitment offering, expected to close around April 23, 2025.

Positive

• IPO provides immediate capital injection of $5.0 million
• Nasdaq listing enhances company visibility and trading liquidity
• Planned investment in electric vehicular fleet shows technology advancement
• Additional capital available through underwriter's option of 187,500 shares

Negative

• Relatively small IPO size may limit institutional investor interest
• Potential dilution for existing shareholders
• Single book-runner might indicate market maker support

Insights

Financial Analyst

Concorde International Group's micro-sized $5M IPO at $4 per share raises questions about capital adequacy despite firm commitment underwriting.

Concorde International Group, a Singapore-based integrated security services provider, has priced its initial public offering at $4.00 per share. The company is offering 1.25 million Class A ordinary shares, raising total gross proceeds of $5.0 million before deducting underwriting discounts and related expenses.

The $5M raise represents an unusually small IPO for a Nasdaq listing, where typical offerings are substantially larger. This micro-cap sizing, combined with the $4.00 share price (below the $5.00 typical minimum preferred for Nasdaq listings), suggests institutional interest and potential liquidity challenges post-listing.

The company plans to allocate proceeds across five distinct initiatives: electric vehicular mobile command centers, R&D activities, market development, product development, and working capital. This broad distribution of a relatively modest capital raise raises questions about whether sufficient funding will be available for any single initiative to create meaningful impact.

On the positive side, the IPO was conducted on a firm commitment basis with R.F. Lafferty as the sole book-running manager, meaning the underwriter has agreed to purchase all shares offered. This structure reduces the company's risk in the offering process, though it's worth noting that R.F. Lafferty is a smaller investment bank, which may affect post-IPO support and analyst coverage.

Trading is expected to commence on April 22, 2025, on the Nasdaq Capital Market under the ticker symbol "CIGL," with the offering closing around April 23, 2025. The underwriters have a 45-day option to purchase up to an additional 187,500 shares at the IPO price.

Singapore, April 22, 2025 (GLOBE NEWSWIRE) -- Concorde International Group Ltd. (NASDAQ: CIGL) (“Concorde” or the “Company”), an integrated security services provider that combines physical manpower and innovative technology to deliver effective security solutions, today announced the pricing of its initial public offering (the "Offering") of 1,250,000 Class A ordinary shares (the "Class A Ordinary Shares") at a public offering price of US$4.00 per share. The Class A Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 22, 2025, under the ticker symbol "CIGL.”

The Company expects to receive aggregate gross proceeds of US$5.0 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45- day option to purchase up to an additional 187,500 Class A Ordinary Shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about April 23, 2025, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from this Offering for or purchase and rollout of electric vehicular mobile command centers, research and development activities, regional market development and exploration of new markets, product development, working capital and general corporate purposes.

The Offering was conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. ("R.F. Lafferty") acted as sole book-running manager for the Offering.

A registration statement on Form F-1 (File No. 333-281799) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on March 31, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement, and a free writing prospectus. Copies of the final prospectus related to the Offering may be obtained from R.F. Lafferty by email at offerings@rflafferty.com or via standard mail to R.F. Lafferty & Co., Inc, 40 Wall Street, 27th Floor, New York, NY10005. In addition, a copy of the final prospectus can also be obtained via the SEC's website at www.sec.gov.

Before you invest, you should read the prospectus, the free writing prospectus, and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Concorde International Group Ltd

Concorde International Group Limited (Nasdaq: CIGL) is a Singapore-based company specializing in integrated security solutions and facilities management services. Established in 1997, the Company has transitioned from traditional security services to a technology-driven approach. This shift involves deploying advanced systems like CCTV, sensors, and mobile command vehicles, significantly reducing the need for physical guards and enhancing operational efficiency.

For more information, please visit: https://www.concordesecurity.com/. 

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, the Company's statements regarding the expected trading of its Class A Ordinary Shares on the Nasdaq Capital Market and the closing of the Offering. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, contact:

Investor Relations Contact:
Crescendo Communications, LLC
David Waldman/Natalya Rudman
Tel: (212) 671-1020
Email: CIGL@crescendo-ir.com 

FAQ

What is the IPO price and size for Concorde International Group (CIGL)?

Concorde International Group's IPO is priced at $4.00 per share for 1,250,000 Class A ordinary shares, aiming to raise $5.0 million in gross proceeds.

When will CIGL stock start trading on Nasdaq?

CIGL stock is scheduled to begin trading on the Nasdaq Capital Market on April 22, 2025.

How will Concorde International Group use its IPO proceeds?

The proceeds will fund electric vehicular mobile command centers, R&D activities, market development, product development, and working capital.

What is the underwriter's option in CIGL's IPO?

Underwriters have a 45-day option to purchase up to an additional 187,500 Class A Ordinary Shares at the public offering price.

Who is the book-running manager for CIGL's IPO?

R.F. Lafferty & Co. is acting as the sole book-running manager for the offering.