Hong Kong, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Samfine Creation Holdings Group Limited (NASDAQ:SFHG) (the "Company"), a one-stop printing service provider, announced the pricing of its initial public offering (the "Offering") of 2,000,000 ordinary shares (the "Ordinary Shares") on October 14, 2024, at a price of $4.00 per Ordinary Share (the "Offering Price"). The Ordinary Shares are expected to begin trading on the Nasdaq Capital Market on October 15, 2024 under the symbol "SFHG."
The Offering is expected to close on October 16, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds for strengthening of its operating subsidiaries' printing business in Hong Kong and expanding market presence in other international markets in particular the U.S., for purchasing machinery and improving and upgrading its operating subsidiaries' production equipment to enhance level of automation, and for additional working capital and other general corporate purposes.
In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 Ordinary Shares of the Company, at the Offering Price, less underwriting discounts.
The Offering is conducted on a firm commitment basis. Cathay Securities Inc. is acting as the representative of the underwriters, with Revere Securities LLC and Dominari Securities LLC acting as co-underwriters (collectively, the "Underwriters") for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. legal counsel to the Company and ...
