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SKK Holdings (Nasdaq: SKK), a civil engineering service provider specializing in subsurface utility works in Singapore, has closed its initial public offering of 2,500,000 ordinary shares at $4.00 per share, raising $10.0 million in gross proceeds. The company sold 1,750,000 shares, while selling shareholders offered 750,000 shares. SKK's shares began trading on the Nasdaq Capital Market on October 8, 2024, under the ticker symbol 'SKK'.
After deducting discounts and expenses, SKK received net proceeds of approximately $5.26 million. The funds will be used to expand and renew equipment and vehicles, expand operational facilities, repay debt, explore business expansion opportunities, and for general working capital. Bancroft Capital, acted as the sole underwriter for the offering.
SKK Holdings , a civil engineering service provider specializing in subsurface utility works in Singapore, has announced the pricing of its initial public offering (IPO). The company is offering 2,500,000 ordinary shares at $4.00 per share, aiming to raise $10.0 million in gross proceeds. Of the total shares, 1,750,000 are being offered by the company, while selling shareholders are offering 750,000 shares.
Trading of SKK's ordinary shares is scheduled to begin on the Nasdaq Capital Market on October 8, 2024, under the ticker symbol 'SKK'. The offering is expected to close around October 9, 2024. Bancroft Capital, is acting as the sole underwriter for the IPO. The offering is being conducted pursuant to the company's registration statement on Form F-1, which was declared effective by the SEC on September 18, 2024.
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