PTL Limited Announces Closing of Initial Public Offering
PTL LTD - Ordinary Shares (PTLE)
Company Research
Source: GlobeNewswire
Hong Kong, Oct. 17, 2024 (GLOBE NEWSWIRE) -- PTL Limited (Nasdaq: PTLE) (the “Company”), an established bunkering facilitator providing marine fuel logistics services for vessel refueling, serving the Asia Pacific market, today announced the closing of its initial public offering (the “Offering”) of 1,250,000 ordinary shares (the “Ordinary Shares”), at a price of $4.00 per Ordinary Share (the “Offering Price”). The Ordinary Shares commenced trading on the Nasdaq Capital Market on October 16, 2024 under the symbol “PTLE.” The Company received aggregate gross proceeds of US$5 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 187,500 Ordinary Shares of the Company, at the Offering Price, representing 15% of the Ordinary Shares sold in the Offering (the “Over-allotment”). The Company intends to use the net proceeds from the Offering for ve
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