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Primega Group Holdings (Nasdaq: PGHL) has successfully closed its initial public offering (IPO) and resale of ordinary shares. The company, which provides environmentally friendly transportation services for construction and demolition materials, offered 1,500,000 ordinary shares at $4.00 per share, raising gross proceeds of approximately $6,000,000. Additionally, a selling shareholder offered 250,000 shares at the same price, bringing the total gross proceeds to $7,000,000.
PGHL's shares began trading on the Nasdaq Capital Market on July 23, 2024. The company plans to use the net proceeds to expand its business by acquiring machinery and equipment, upgrading IT systems, and funding working capital. Bancroft Capital, acted as the sole lead underwriter for the offering.
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