Oriental Rise Holding Limited Announces Closing of Initial Public Offering
Oriental Rise Holding (NasdaqCM: ORIS), an integrated supplier of tea products in mainland China, has closed its initial public offering of 1,750,000 ordinary shares at $4 per share. The company's shares began trading on the Nasdaq Capital Market on October 17, 2024. The gross proceeds from the offering totaled $7 million, before deducting underwriting discounts and other expenses.
US Tiger Securities, Inc. acted as the sole book runner for the offering, which was conducted on a firm commitment basis. The company has granted the underwriter a 45-day option to purchase up to an additional 262,500 ordinary shares at the public offering price, less underwriting discounts and commissions.
Oriental Rise Holding (NasdaqCM: ORIS), un fornitore integrato di prodotti a base di tè in Cina, ha concluso la sua offerta pubblica iniziale di 1.750.000 azioni ordinarie a 4 dollari per azione. Le azioni dell'azienda hanno iniziato a essere negoziate sul Nasdaq Capital Market il 17 ottobre 2024. Il ricavo lordo dall'offerta ha totalizzato 7 milioni di dollari, prima di dedurre sconti sui collocamenti e altre spese.
US Tiger Securities, Inc. ha agito come unico libro di emissione per l'offerta, che è stata condotta su base di impegno fermo. L'azienda ha concesso all'underwriter un'opzione di 45 giorni per acquistare fino a ulteriori 262.500 azioni ordinarie al prezzo di offerta pubblica, al netto degli sconti e commissioni di collocamento.
Oriental Rise Holding (NasdaqCM: ORIS), un proveedor integrado de productos de té en China continental, ha cerrado su oferta pública inicial de 1,750,000 acciones ordinarias a 4 dólares por acción. Las acciones de la compañía comenzaron a cotizar en el Nasdaq Capital Market el 17 de octubre de 2024. Los ingresos brutos de la oferta totalizaron 7 millones de dólares, antes de deducir descuentos de suscripción y otros gastos.
US Tiger Securities, Inc. actuó como el único libro de órdenes para la oferta, que se llevó a cabo sobre una base de compromiso firme. La compañía ha otorgado al suscriptor una opción de 45 días para comprar hasta 262,500 acciones ordinarias adicionales al precio de la oferta pública, menos descuentos y comisiones de suscripción.
Oriental Rise Holding (NasdaqCM: ORIS)는 중국 본토에서 통합 차 제품 공급업체로, 1,750,000주의 보통주를 주당 4달러에 상장공모를 마감했습니다. 회사의 주식은 2024년 10월 17일 Nasdaq 자본 시장에서 거래를 시작했습니다. 공모로 인한 총 수익은 700만 달러로, 인수 할인의 다른 비용을 공제하기 전의 금액입니다.
US Tiger Securities, Inc.는 이 공모를 위해 단독 북러너로 활동했으며, 이는 확정 약속 기반으로 실시되었습니다. 이 회사는 인수자에게 45일 동안 공모 가격으로 추가 262,500주를 구매할 수 있는 옵션을 부여했습니다. 이 가격은 인수 할인 및 수수료를 제외한 금액입니다.
Oriental Rise Holding (NasdaqCM: ORIS), un fournisseur intégré de produits à base de thé en Chine continentale, a conclu son introduction en bourse de 1 750 000 actions ordinaires au prix de 4 dollars par action. Les actions de l'entreprise ont commencé à se négocier sur le Nasdaq Capital Market le 17 octobre 2024. Les recettes brutes de l'offre se sont élevées à 7 millions de dollars, avant déduction des remises de souscription et autres frais.
US Tiger Securities, Inc. a agi en tant que seul coordinateur de l'offre, qui a été réalisée sur une base de promesse ferme. L'entreprise a accordé au souscripteur une option de 45 jours pour acheter jusqu'à 262 500 actions ordinaires supplémentaires au prix de l'offre publique, moins les remises et commissions de souscription.
Oriental Rise Holding (NasdaqCM: ORIS), ein integrierter Anbieter von Teer Produkten in Festlandchina, hat seinen Börsengang abgeschlossen und 1.750.000 Stammaktien zu je 4 Dollar pro Aktie ausgegeben. Die Aktien des Unternehmens wurden am 17. Oktober 2024 am Nasdaq Capital Market börsengeführt. Die Bruttoerlöse aus der Emission beliefen sich auf 7 Millionen Dollar, vor Abzug von Zeichnungsgebühren und anderen Ausgaben.
US Tiger Securities, Inc. fungierte als alleiniger Buchführer für die Emission, die auf Grundlage fester Verpflichtungen durchgeführt wurde. Das Unternehmen hat dem Emissionshaus eine 45-tägige Option eingeräumt, bis zu 262.500 zusätzliche Stammaktien zum öffentlich angebotenen Preis zu erwerben, abzüglich der Zeichnungsgebühren und Provisionen.
- Successfully completed initial public offering, raising $7 million in gross proceeds
- Shares now trading on Nasdaq Capital Market under ticker ORIS
- Underwriter granted 45-day option to purchase additional shares, potentially increasing proceeds
- Potential dilution of existing shareholders' value due to new share issuance
- Underwriting discounts and related expenses will reduce net proceeds from the offering
Insights
Oriental Rise Holding 's successful IPO marks a significant milestone for the Chinese tea products supplier. The company raised
This IPO provides Oriental Rise with substantial capital for potential expansion and operational improvements. However, investors should note that the relatively small offering size and the company's focus on the Chinese market may limit its immediate global impact. The additional
While the IPO indicates market interest in the tea sector, it's important to consider the competitive landscape and potential growth challenges in China's mature tea market. Investors should closely monitor the company's use of proceeds and its ability to leverage this capital for sustainable growth in the coming quarters.
The successful IPO of Oriental Rise Holding reflects growing investor interest in China's tea industry, which has deep cultural roots and a vast domestic market. As an integrated supplier, Oriental Rise is well-positioned to capitalize on the increasing demand for quality tea products in China.
However, the relatively modest IPO size suggests the company may face challenges in scaling rapidly or competing with larger, established players. Investors should watch for Oriental Rise's strategies to differentiate itself in a crowded market and its ability to expand beyond its current operations.
The listing on Nasdaq provides Oriental Rise with increased visibility and access to international capital markets, which could be important for future growth initiatives. Keep an eye on the company's financial performance and market share gains in the coming quarters to gauge the effectiveness of its post-IPO strategy.
Ningde, China, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Oriental Rise Holding Limited (“Oriental Rise” or the "Company") (NasdaqCM: ORIS), an integrated supplier of tea products in mainland China, today announced the closing of its initial public offering (the "Offering") of 1,750,000 ordinary shares at a public offering price of
The Company received aggregate gross proceeds of
US Tiger Securities, Inc. acted as sole book runner for the Offering. The Crone Law Group served as counsel to the Company. VCL Law LLP served as counsel to the underwriter.
A registration statement on Form F-1, as amended (File No. 333-274976) relating to the Offering was previously filed with the Securities and Exchange Commission (“SEC”) by the Company, and subsequently declared effective by the SEC on September 30, 2024. The Offering is being 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 October 17, 2024 and is available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus related to the Offering may be obtained, when available, from US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.
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 Oriental Rise Holding Limited
Oriental Rise Holding Limited is an integrated supplier of tea products in mainland China. Our major tea products include (i) primarily-processed tea consisting of white tea and black tea, and (ii) refined white tea and black tea. Our business operations are vertically integrated, covering cultivation, processing of tea leaves and the sale of tea products to tea business operators (such as wholesale distributors) and end-user retail customers in mainland China. We operate tea gardens located in Zherong County, Ningde City in Fujian Province of mainland China. For more information, visit the Company's website at https://ir.mdhtea.cn/.
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:
Sherry Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: shunyu.zheng@weitian-ir.com
FAQ
How much did Oriental Rise Holding (ORIS) raise in its IPO?
What was the IPO price for Oriental Rise Holding (ORIS) shares?
When did Oriental Rise Holding (ORIS) begin trading on the Nasdaq?
Who was the underwriter for Oriental Rise Holding 's (ORIS) IPO?
