Global Engine Group Holding Limited Announces Closing of the Underwriter’s Over-Allotment Option in Connection with its Initial Public Offering
Global Engine Group Holding (GLE), a Hong Kong-based integrated solutions provider in information communication technologies (ICT), has announced the closing of its underwriter's over-allotment option in connection with its initial public offering (IPO). The company sold an additional 300,000 ordinary shares at the IPO price of $4 per share, raising gross proceeds of $1,200,000. This is in addition to the previously announced IPO gross proceeds of $8,000,000.
The total gross proceeds from the offering, including the over-allotment, amount to $9,200,000 before deducting underwriting discounts and offering expenses. R.F. Lafferty & Co., Inc. acted as the sole underwriter for the offering, which was conducted on a firm commitment basis. The company's registration statement on Form F-1 was declared effective by the SEC on September 16, 2024.
Global Engine Group Holding (GLE), un fornitore di soluzioni integrate nel campo delle tecnologie della comunicazione e dell'informazione (ICT) con sede a Hong Kong, ha annunciato la chiusura dell'opzione di over-allotment del proprio sottoscrittore in relazione alla propria offerta pubblica iniziale (IPO). L'azienda ha venduto ulteriori 300.000 azioni ordinarie al prezzo IPO di 4 dollari per azione, raccogliendo introiti lordi di 1.200.000 dollari. Questo si aggiunge agli introiti lordi dalla IPO precedentemente annunciati di 8.000.000 dollari.
Gli introiti lordi totali derivanti dall'offerta, inclusa l'opzione di over-allotment, ammontano a 9.200.000 dollari prima di dedurre gli sconti per la sottoscrizione e le spese di offerta. R.F. Lafferty & Co., Inc. ha agito come unico sottoscrittore per l'offerta, che è stata condotta su base di impegno fermo. La dichiarazione di registrazione dell'azienda sul modulo F-1 è stata dichiarata efficace dalla SEC il 16 settembre 2024.
Global Engine Group Holding (GLE), un proveedor de soluciones integradas en tecnologías de la comunicación e información (ICT) con sede en Hong Kong, ha anunciado el cierre de la opción de sobreasignación de su suscriptor en relación con su oferta pública inicial (IPO). La empresa vendió 300,000 acciones ordinarias adicionales al precio de la IPO de 4 dólares por acción, recaudando ingresos brutos de 1,200,000 dólares. Esto se suma a los ingresos brutos de la IPO anunciados anteriormente de 8,000,000 dólares.
Los ingresos brutos totales de la oferta, incluyendo la sobreasignación, ascienden a 9,200,000 dólares antes de deducir descuentos de suscripción y gastos de la oferta. R.F. Lafferty & Co., Inc. actuó como el único suscriptor de la oferta, que se realizó sobre una base de compromiso firme. La declaración de registro de la empresa en el formulario F-1 fue declarada efectiva por la SEC el 16 de septiembre de 2024.
홍콩에 본사를 둔 정보통신기술(ICT) 통합 솔루션 제공업체인 Global Engine Group Holding (GLE)은 자사 초기사채공모(IPO)와 관련하여 인수자의 초과 배정 옵션 종료를 발표했습니다. 이 회사는 IPO 가격으로 300,000주의 추가 보통주를 판매하여 1,200,000달러의 총 수익을 올렸습니다. 이는 이전에 발표된 8,000,000달러의 IPO 총 수익 외에 해당합니다.
초과 배정이 포함된 총 수익은 인수 수수료 및 기타 비용을 공제하기 전 9,200,000달러에 이릅니다. R.F. Lafferty & Co., Inc.는 이 오퍼링의 유일한 인수자로 활동하였으며, 이는 확정 약정에 따라 진행되었습니다. 회사의 F-1 양식 등록 신청서는 2024년 9월 16일 SEC에 의해 유효하다고 승인되었습니다.
Global Engine Group Holding (GLE), un fournisseur de solutions intégrées dans les technologies de communication et d'information (TIC) basé à Hong Kong, a annoncé la clôture de l'option de surallocation de son souscripteur en relation avec son introduction en bourse (IPO). La société a vendu 300.000 actions ordinaires supplémentaires au prix de l'IPO de 4 dollars par action, générant des recettes brutes de 1.200.000 dollars. Cela s'ajoute aux recettes brutes de l'IPO précédemment annoncées de 8.000.000 dollars.
Les recettes brutes totales de l'offre, y compris la surallocation, s'élèvent à 9.200.000 dollars avant déduction des remises de souscription et des frais d'offre. R.F. Lafferty & Co., Inc. a agi en tant que seul souscripteur pour l'offre, qui a été réalisée sur une base d'engagement ferme. La déclaration d'enregistrement de l'entreprise sur le formulaire F-1 a été déclarée effective par la SEC le 16 septembre 2024.
Global Engine Group Holding (GLE), ein in Hongkong ansässiger Anbieter integrierter Lösungen im Bereich der Informations- und Kommunikationstechnologien (IKT), hat den Abschluss der Überzeichnungsoption seines Emissionshauses im Zusammenhang mit seinem Börsengang (IPO) bekannt gegeben. Das Unternehmen verkaufte zusätzlich 300.000 Stammaktien zum IPO-Preis von 4 Dollar pro Aktie und erzielte Bruttoeinnahmen von 1.200.000 Dollar. Dies kommt zu den zuvor angekündigten Bruttoeinnahmen aus dem IPO von 8.000.000 Dollar hinzu.
Die gesamten Bruttoeinnahmen aus dem Angebot, einschließlich der Überzeichnung, belaufen sich auf 9.200.000 Dollar, bevor Anleiheprovisionen und Angebotskosten abgezogen werden. R.F. Lafferty & Co., Inc. fungierte als alleiniger Emissar für das Angebot, das auf fester Verpflichtungsbasis durchgeführt wurde. Der Registrierungsantrag des Unternehmens auf Formular F-1 wurde am 16. September 2024 von der SEC für wirksam erklärt.
- Successful closing of over-allotment option, indicating strong demand for GLE shares
- Additional $1,200,000 in gross proceeds raised from the over-allotment
- Total gross proceeds of $9,200,000 from the IPO and over-allotment combined
- Potential dilution of existing shareholders due to additional shares issued
Insights
The successful closing of the over-allotment option in GLE's IPO is a positive development for the company. The additional
The IPO price of
Investors should note that while this is a positive signal, the company will need to effectively utilize these funds to drive growth and create shareholder value. The ICT sector is highly competitive and GLE will need to demonstrate its ability to capture market share and improve its financial performance to justify its valuation post-IPO.
Hong Kong, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Global Engine Group Holding Limited (the “Company” or “GLE”), a Hong Kong-headquartered integrated solutions provider in information communication technologies (“ICT”), today announced that it closed the sale of an additional 300,000 ordinary shares of the Company, pursuant to the full exercise of the underwriter’s over-allotment option granted in connection with the Company’s initial public offering (“IPO”, together with such over-allotment closing, the “Offering”), at the IPO price of
The Offering was conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. (the “Underwriter”) acted as the sole underwriter for the Offering. Robinson & Cole LLP acted as U.S. counsel to the Company, and Winston & Strawn LLP acted as U.S. counsel to the Underwriter, in connection with the Offering.
A registration statement on Form F-1 (File No. 333-266919) 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 September 16, 2024. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained, when available, from R. F. Lafferty & Co., Inc by email at offerings@rflafferty.com or via standard mail to R. F. Lafferty & Co., Inc, 40 Wall Street, 27th Floor, New York, NY 10005. 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 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 Global Engine Group Holding Limited
Global Engine Group Holding Limited is an integrated solutions provider that operates via a wholly-owned subsidiary incorporated in Hong Kong to deliver (i) ICT solution services which include the cloud platform deployment, IT system design and configuration, maintenance, data center colocation and cloud services; (ii) technical services which include the technical development, support, and outsourcing services for data center and cloud computing infrastructure, mobility and fixed network communications, as well as IoT projects; and (iii) project management services which enhances productivity and collaboration management and enables successful implementations and adoption of solutions for customers, to drive business outcomes and innovation for its customers. GLE’s target customer groups include: (i) small to medium-sized telecom operators and ICT service providers seeking expansion in Hong Kong and the South East Asian market; (ii) data center and cloud computing services providers; and (iii) Internet-of-things (“IoT”) solutions providers. For more information, please visit: www.globalengine.com.hk; ir.globalengine.com.hk/.
Forward-Looking Statement
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. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These forward-looking statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions 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, please contact:
Underwriters
R. F. Lafferty & Co., Inc.
40 Wall Street, 27th Floor
New York, NY 10005
(212) 293-9090
offerings@rflafferty.com
Investor Relations
WFS Investor Relations Inc.
Janice Wang, Managing Partner
Email: services@wealthfsllc.com
Phone: +86 13811768599
+1 628 283 9214
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