Welcome to our dedicated page for Phoenix Asia Holdings news (Ticker: PHOE), a resource for investors and traders seeking the latest updates and insights on Phoenix Asia Holdings stock.
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Phoenix Asia Holdings , a Hong Kong-based substructure contractor, has announced the pricing of its initial public offering (IPO) of 1,600,000 ordinary shares at $4.00 per share, raising gross proceeds of $6.4 million.
The company's shares will begin trading on Nasdaq Capital Market under the symbol 'PHOE' on April 25, 2025. Underwriters have a 45-day option to purchase up to 240,000 additional shares. The IPO is expected to close on April 28, 2025.
The proceeds will be allocated as follows:
- 35% for hiring additional staff
- 15% for acquiring innovative machinery
- 10% for enhancing the 'Winfield' brand
- 40% for working capital and general corporate purposes
