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Hong Kong Pharma Digital Technology Holdings (NASDAQ: HKPD), a leading OTC pharmaceutical cross-border e-commerce supply chain services provider in Hong Kong, has completed its initial public offering. The company sold 1,403,685 ordinary shares at $4.00 per share, comprising 1,000,000 shares from the company and 403,685 from selling shareholders.
The IPO generated total gross proceeds of $5,614,740, with the company receiving $4,000,000 and selling shareholders receiving $1,614,740, before deducting underwriting costs. Trading began on Nasdaq Capital Market on January 15, 2025, under 'HKPD'. The company granted underwriters a 45-day option to purchase up to 150,000 additional shares.
The net proceeds will fund development of supply chain ERP systems, warehouse equipment procurement, sales and marketing team expansion, and working capital needs. Bancroft Capital led the underwriting, with Eddid Securities USA as co-underwriter.
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