CTRL Group Limited Announces Full Exercise of Underwriter’s Over-Allotment Option
CTRL Group (MCTR), a Hong Kong-based integrated marketing and advertising services provider specializing in mobile games promotion, has announced the full exercise of the underwriter's over-allotment option. R.F. Lafferty & Co., Inc., the representative underwriter of the company's IPO, has purchased an additional 300,000 ordinary shares at the IPO price of $4.00 per share.
The company has now raised a total of $9.2 million in gross proceeds through the issuance of 2,300,000 ordinary shares in the IPO. R.F. Lafferty & Co., Inc. and Revere Securities served as underwriters, with The Crone Law Group, P.C. and VCL Law LLP acting as legal counsel to the Company and Underwriters, respectively.
CTRL Group (MCTR), un fornitore di servizi integrati di marketing e pubblicità con sede a Hong Kong specializzato nella promozione di giochi mobili, ha annunciato l'esercizio completo dell'opzione di sovrallocazione dell'emittente. R.F. Lafferty & Co., Inc., l'emittente rappresentativo dell'IPO dell'azienda, ha acquistato ulteriori 300.000 azioni ordinarie al prezzo di IPO di $4.00 per azione.
L'azienda ha ora raccolto un totale di $9,2 milioni in proventi lordi attraverso l'emissione di 2.300.000 azioni ordinarie nell'IPO. R.F. Lafferty & Co., Inc. e Revere Securities hanno svolto il ruolo di emittenti, mentre The Crone Law Group, P.C. e VCL Law LLP hanno agito come consulenti legali per l'azienda e per gli emittenti, rispettivamente.
CTRL Group (MCTR), un proveedor de servicios de marketing y publicidad integrados con sede en Hong Kong especializado en la promoción de juegos móviles, ha anunciado el ejercicio completo de la opción de sobreasignación del suscriptor. R.F. Lafferty & Co., Inc., el suscriptor representante de la OPI de la empresa, ha comprado 300,000 acciones ordinarias adicionales al precio de OPI de $4.00 por acción.
La empresa ha recaudado ahora un total de $9.2 millones en ingresos brutos a través de la emisión de 2,300,000 acciones ordinarias en la OPI. R.F. Lafferty & Co., Inc. y Revere Securities sirvieron como suscriptores, con The Crone Law Group, P.C. y VCL Law LLP actuando como asesores legales de la empresa y de los suscriptores, respectivamente.
CTRL Group (MCTR)는 모바일 게임 프로모션을 전문으로 하는 홍콩 기반의 통합 마케팅 및 광고 서비스 제공업체로, 인수자의 초과 배정 옵션을 완전히 행사했습니다. 회사의 IPO 대표 인수업체인 R.F. Lafferty & Co., Inc.는 IPO 가격인 $4.00 per 주로 추가 300,000 보통주를 구매했습니다.
회사는 이제 IPO를 통해 총 $9.2 백만의 총 매출을 보유하게 되었으며, 2,300,000 보통주를 발행했습니다. R.F. Lafferty & Co., Inc.와 Revere Securities는 인수업체 역할을 맡았으며, The Crone Law Group, P.C.와 VCL Law LLP는 각각 회사 및 인수업체의 법률 자문 역할을 수행했습니다.
CTRL Group (MCTR), un fournisseur de services intégrés de marketing et de publicité basé à Hong Kong, spécialisé dans la promotion de jeux mobiles, a annoncé l'exercice complet de l'option de surallocation du souscripteur. R.F. Lafferty & Co., Inc., le souscripteur représentant de l'IPO de l'entreprise, a acheté 300 000 actions ordinaires supplémentaires au prix de l'IPO de $4,00 par action.
L'entreprise a désormais levé un total de $9,2 millions de produits bruts grâce à l'émission de 2 300 000 actions ordinaires lors de l'IPO. R.F. Lafferty & Co., Inc. et Revere Securities ont agi en tant que souscripteurs, tandis que The Crone Law Group, P.C. et VCL Law LLP ont agi en tant que conseillers juridiques de l'Entreprise et des Souscripteurs, respectivement.
CTRL Group (MCTR), ein in Hongkong ansässiger Anbieter von integrierten Marketing- und Werbediensten, der sich auf die Promotion von Mobile Games spezialisiert hat, hat die vollständige Ausübung der Überplatzierungsoption des Underwriters bekannt gegeben. R.F. Lafferty & Co., Inc., der vertretende Underwriter des IPO des Unternehmens, hat weitere 300.000 Stammaktien zum IPO-Preis von $4,00 pro Aktie gekauft.
Das Unternehmen hat jetzt insgesamt $9,2 Millionen an brutto Erlösen durch die Emission von 2.300.000 Stammaktien im Zuge des IPOs erzielten. R.F. Lafferty & Co., Inc. und Revere Securities fungierten als Underwriter, während The Crone Law Group, P.C. und VCL Law LLP als Rechtsberater des Unternehmens und der Underwriter tätig waren.
- Successfully raised $9.2 million in gross proceeds from IPO
- Full exercise of over-allotment option indicates strong market demand
- Additional capital strengthens company's financial position
- Potential dilution of existing shareholders due to additional share issuance
Insights
The full exercise of the over-allotment option by R.F. Lafferty & Co. represents a significant vote of confidence in CTRL Group 's market position. The additional
The complete uptake of the greenshoe option is particularly noteworthy for several reasons: First, it demonstrates robust institutional interest in the company's business model and growth prospects. Second, it provides additional liquidity to the market, which can help stabilize the stock price in early trading. Third, the expanded capital base enables CTRL Group to pursue more aggressive growth strategies in Hong Kong's expanding mobile gaming market.
The involvement of both R.F. Lafferty & Co. and Revere Securities as underwriters suggests a well-structured offering with broader market reach. The timing of this IPO is strategic, as Hong Kong's mobile gaming sector continues to show resilience despite broader market uncertainties. The
For investors, this successful completion of the IPO process, including the over-allotment, suggests potential for market stability and institutional support in the early trading period. However, it's important to monitor how effectively management deploys this capital to capture growth opportunities in Hong Kong's mobile game promotion landscape.
Kowloon, Hong Kong, Jan. 27, 2025 (GLOBE NEWSWIRE) -- CTRL Group Limited (the “Company”) (NasdaqCM: MCTR), an integrated marketing and advertising services provider in Hong Kong specializing in mobile games promotion for the local market, today announced that R.F. Lafferty & Co., Inc., which acted as the representative of the underwriters of the Company’s initial public offering (the “IPO”), has exercised the full over-allotment option and purchased an additional 300,000 ordinary shares of the Company at the IPO price of
R.F. Lafferty & Co., Inc. acted as the representative of the underwriters, with Revere Securities LLC acting as co-underwriter (collectively, the “Underwriters”) for the Offering. The Crone Law Group, P.C. served as counsel to the Company. VCL Law LLP served as counsel to the Underwriters.
A Registration Statement on Form F-1, as amended (File No. 333-277979) (the “Registration Statement”), was previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on December 31, 2024. The Offering was made only by means of a prospectus, forming a part of the Registration Statement. A final prospectus relating to the Offering was filed with the SEC on January 22, 2025, and is available on the SEC’s website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from R.F. Lafferty & Co., Inc. at 40 Wall Street, 27th Floor New York, NY 10005, or by telephone at +212.293.9090.
This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 CTRL Group Limited
The Company’s wholly owned subsidiary and operating company, CTRL Group Limited, is an integrated marketing and advertising services provider in Hong Kong specializing in mobile games promotion for the local market. The Company provides services to mobile game developers, principally developers of mobile gaming applications or “apps” that gamers download from the developers’ websites and applicable mobile operating systems, such as Apple Store or Android Google Play Store. The market for specialized mobile game advertising in Hong Kong is occupied by a few market players who compete with one another. The Company’s prominent market share and proven track record are indicative of its audience reach and engagement, as well as its relevance to advertisers in Hong Kong markets. For more information, please visit the Company's website: https://www.ctrl-media.com/
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.
For more information, please contact:
Investor Relations
CTRL Group Limited
Phone: +852-3107-4887
Email: project@ctrl-media.com
FAQ
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