WF Holding Announces Pricing of Initial Public Offering
WF Holding, a Malaysia-based manufacturer of fiberglass reinforced plastic (FRP) products, has announced the pricing of its Initial Public Offering (IPO) on the Nasdaq Capital Market. The company will offer 2,000,000 ordinary shares at US$4.00 per share, trading under the symbol 'WFF' starting March 27, 2025.
The IPO is expected to raise US$8 million in gross proceeds before deducting underwriting discounts and expenses. The underwriters have a 45-day option to purchase an additional 300,000 shares. The offering, conducted on a firm commitment basis, is expected to close around March 28, 2025.
Proceeds will be used for expanding production capacity, hiring and training staff, working capital, and general corporate purposes. Dominari Securities is leading the underwriting, with Revere Securities as co-underwriter.
WF Holding, un produttore di prodotti in plastica rinforzata con fibra di vetro (FRP) con sede in Malesia, ha annunciato il prezzo della sua Offerta Pubblica Iniziale (IPO) sul mercato Nasdaq Capital. L'azienda offrirà 2.000.000 azioni ordinarie a 4,00 USD per azione, negoziando con il simbolo 'WFF' a partire dal 27 marzo 2025.
Si prevede che l'IPO raccolga 8 milioni di USD in proventi lordi prima di dedurre gli sconti di sottoscrizione e le spese. I sottoscrittori hanno un'opzione di 45 giorni per acquistare ulteriori 300.000 azioni. L'offerta, condotta su base di impegno fermo, dovrebbe chiudersi intorno al 28 marzo 2025.
I proventi saranno utilizzati per espandere la capacità produttiva, assumere e formare personale, capitale circolante e scopi aziendali generali. Dominari Securities guida la sottoscrizione, con Revere Securities come co-sottoscrittore.
WF Holding, un fabricante de productos de plástico reforzado con fibra de vidrio (FRP) con sede en Malasia, ha anunciado el precio de su Oferta Pública Inicial (IPO) en el mercado Nasdaq Capital. La empresa ofrecerá 2.000.000 acciones ordinarias a 4,00 USD por acción, negociando bajo el símbolo 'WFF' a partir del 27 de marzo de 2025.
Se espera que la IPO recaude 8 millones de USD en ingresos brutos antes de deducir los descuentos y gastos de suscripción. Los suscriptores tienen una opción de 45 días para comprar 300.000 acciones adicionales. La oferta, realizada sobre una base de compromiso firme, se espera que cierre alrededor del 28 de marzo de 2025.
Los ingresos se utilizarán para expandir la capacidad de producción, contratar y capacitar personal, capital de trabajo y fines corporativos generales. Dominari Securities lidera la suscripción, con Revere Securities como co-suscriptor.
WF Holding는 말레이시아에 본사를 둔 유리 섬유 강화 플라스틱(FRP) 제품 제조업체로, 나스닥 자본 시장에서 상장 공모(IPO) 가격을 발표했습니다. 회사는 2,000,000주의 보통주를 주당 4.00 USD에 제공하며, WFF라는 기호로 2025년 3월 27일부터 거래를 시작합니다.
이번 IPO는 인수 수수료 및 비용을 공제하기 전 800만 USD의 총 수익을 올릴 것으로 예상됩니다. 인수자들은 추가로 300,000주를 구매할 수 있는 45일 옵션을 가지고 있습니다. 이 제안은 확정 약정 방식으로 진행되며, 2025년 3월 28일경에 마감될 것으로 예상됩니다.
수익금은 생산 능력 확장, 직원 채용 및 교육, 운영 자본 및 일반 기업 목적에 사용될 예정입니다. Dominari Securities가 인수 주관사를 맡고, Revere Securities가 공동 인수인으로 참여합니다.
WF Holding, un fabricant de produits en plastique renforcé de fibres de verre (FRP) basé en Malaisie, a annoncé le prix de son Introduction en Bourse (IPO) sur le marché Nasdaq Capital. L'entreprise proposera 2.000.000 d'actions ordinaires à 4,00 USD par action, négociant sous le symbole 'WFF' à partir du 27 mars 2025.
On s'attend à ce que l'IPO génère 8 millions USD de recettes brutes avant déduction des remises et des frais de souscription. Les souscripteurs disposent d'une option de 45 jours pour acheter 300.000 actions supplémentaires. L'offre, réalisée sur une base d'engagement ferme, devrait se clôturer aux alentours du 28 mars 2025.
Les recettes seront utilisées pour augmenter la capacité de production, recruter et former du personnel, du fonds de roulement et des fins d'entreprise générales. Dominari Securities dirige la souscription, avec Revere Securities comme co-souscripteur.
WF Holding, ein in Malaysia ansässiger Hersteller von glasfaserverstärkten Kunststoffprodukten (FRP), hat die Preisgestaltung für sein Initial Public Offering (IPO) am Nasdaq Capital Market bekannt gegeben. Das Unternehmen wird 2.000.000 Stammaktien zu einem Preis von 4,00 USD pro Aktie anbieten, die ab dem 27. März 2025 unter dem Symbol 'WFF' gehandelt werden.
Es wird erwartet, dass das IPO 8 Millionen USD an Bruttoeinnahmen vor Abzug von Underwriting-Rabatten und -kosten einbringt. Die Underwriter haben eine 45-tägige Option, weitere 300.000 Aktien zu kaufen. Das Angebot, das auf einer festen Verpflichtungsbasis durchgeführt wird, soll voraussichtlich am 28. März 2025 abgeschlossen werden.
Die Einnahmen werden verwendet, um die Produktionskapazität zu erweitern, Personal einzustellen und auszubilden, Betriebskapital und allgemeine Unternehmenszwecke. Dominari Securities führt das Underwriting, während Revere Securities als Co-Underwriter fungiert.
- Successful IPO approval and listing on Nasdaq Capital Market
- US$8 million capital raise to fund business expansion
- Clear growth strategy focused on production capacity expansion
- Additional funding potential through 300,000 share underwriter option
- Potential shareholder dilution from IPO and additional share option
- Significant expenses related to underwriting and IPO costs will reduce net proceeds
Insights
WF Holding's $8 million IPO represents a significant milestone for this Malaysia-based manufacturer of fiberglass reinforced plastic products. Pricing 2 million shares at $4.00 each on the Nasdaq Capital Market positions the company to execute its growth strategy through vital capital acquisition.
The firm commitment underwriting structure, led by Dominari Securities with Revere Securities as co-underwriter, provides greater certainty of fundraising compared to best-efforts offerings typically seen with smaller issuers. This suggests institutional confidence in the company's prospects, despite the relatively modest offering size.
The capital allocation strategy focusing on production expansion, workforce development, and working capital indicates management is prioritizing operational scale to capture market opportunities. For investors, this represents entry into a specialized manufacturing segment with industrial applications.
The 45-day option for underwriters to purchase an additional 300,000 shares could potentially increase total proceeds by $1.2 million if fully exercised. While the $8 million raise is smaller than typical Nasdaq IPOs, for a specialized manufacturer from Malaysia, securing this capital and U.S. exchange listing creates valuable financial flexibility and enhanced market visibility that could support future growth initiatives.
Company to list shares on Nasdaq Capital Market under symbol “WFF”
KUALA LUMPUR, March 26, 2025 (GLOBE NEWSWIRE) -- WF Holding Limited (“WF Holding” or “Company”), a Malaysia-based manufacturer of fiberglass reinforced plastic (FRP) products, today announced the pricing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares at a public offering price of US
The Company expects to receive aggregate gross proceeds of US
Proceeds from the Offering will be used for expanding the Company’s production capacity, hiring and training staff, working capital and general corporate purposes.
The Offering is being conducted on a firm commitment basis. Dominari Securities LLC is acting as the lead underwriter, with Revere Securities LLC acting as a co-underwriter for the Offering. Bevilacqua PLLC is acting as U.S. counsel to the Company, and The Crone Law Group, P.C. is acting as U.S. counsel to the underwriters in connection with the Offering.
A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-282294) and was declared effective by the SEC on March 26, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement, and a free writing prospectus. Copies of the final prospectus relating to the Offering, when available, may be obtained from Dominari Securities LLC by email at info@dominarisecurities.com, by standard mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor, New York, NY 10022 USA, or by telephone at +1 (212) 393-4500; or from Revere Securities LLC by email at contact@reveresecurities.com, by standard mail to Revere Securities LLC, 560 Lexington Ave, 16th Floor, New York, NY 10022 USA, or by telephone at (212) 688-2238. In addition, copies of the prospectus and free writing prospectus relating to the Offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov.
Before you invest, you should read the prospectus, the free writing prospectus, and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.
About WF Holding Limited
Based in Malaysia, WF Holding Limited is an ISO 9001:2015 certified manufacturer of fiberglass reinforced plastic (FRP) products including tanks, pipes, ducts and custom-made FRP products. With a track record of over 30 years, we design and fabricate products that meet the specific needs of our clients, ensuring high-quality and reliable performance. Our high-quality and durable products leverage the advantages of FRP to reinforce critical industrial infrastructure, driving resilience, longevity and sustainability. We also deliver a wide range of related services such as consultation, delivery, installation, repair and maintenance.
Forward-Looking Statements
Certain statements in this announcement are “forward-looking statements” as defined under the U.S. federal securities laws, including, but not limited to, the Company’s statements regarding the success of the Offering or the use of proceeds from the sale of the Company’s shares in the Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events 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 find many (but not all) of these statements by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology in this press release. The Company undertakes no obligation to update or revise publicly any 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 other filings with the SEC.
For more information, please contact:
WF Holding Limited
Investor Relations
Email: corporate@winfung.com.my
Sense Consultancy Group
Yan Pheng Liang
Email: phengliang@leesense.com
