Sign Up

Samfine Creation Holdings Group Limited Announced Closing of Initial Public Offering

Hong Kong, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Samfine Creation Holdings Group Limited (NASDAQ:SFHG) (the "Company"), a one-stop printing service provider, today announced the closing of its initial public offering (the "Offering") of 2,000,000 ordinary shares ("Ordinary Shares") at a price of $4.00 per share (the "Offering Price"). The Ordinary Shares began trading on the Nasdaq Capital Market on October 15, 2024 under the symbol "SFHG."

The aggregate gross proceeds from the Offering were $8.0 million, before deducting underwriting discounts and other related expenses. 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 at the Offering Price, less underwriting discounts.

The Offering was conducted on a firm commitment basis. Cathay Securities, Inc. acted as the representative of the underwriters, and Revere Securities LLC and Dominari Securities LLC acted as co-underwriters (collectively, the "Underwriters") for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. ...