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Global Engine Group Holding (GLE), an integrated ICT solutions provider based in Hong Kong, has successfully closed its initial public offering on September 23, 2024. The company raised $8 million by offering 2,000,000 ordinary shares at $4.00 per share. Trading of GLE shares began on the Nasdaq Capital Market on September 20, 2024, under the ticker symbol 'GLE'.
The underwriters have a 45-day option to purchase up to 300,000 additional shares to cover overallotments. R.F. Lafferty & Co., Inc. acted as the sole underwriter for the firm commitment offering. GLE plans to use the proceeds equally (25% each) for brand promotion and marketing, recruitment, strategic investments and acquisitions, and general working capital.
Global Engine Group Holding (GLE), an integrated ICT solutions provider based in Hong Kong, has announced the pricing of its initial public offering. The company is offering 2,000,000 ordinary shares at $4.00 per share, aiming to raise $8,000,000 in gross proceeds. GLE's shares are set to begin trading on the Nasdaq Capital Market on September 20, 2024, under the ticker symbol 'GLE'.
The underwriters have a 45-day option to purchase up to 300,000 additional shares to cover over-allotments. R.F. Lafferty & Co., Inc. is acting as the sole underwriter for this firm commitment offering, which is expected to close on September 23, 2024. GLE plans to use the proceeds for brand promotion and marketing (25%), recruitment (25%), strategic investments and acquisitions (25%), and general working capital (25%).
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