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Oriental Rise Holding Limited Announces Closing of Initial Public Offering

Ningde, China, Oct. 18, 2024 (GLOBE NEWSWIRE) --  Oriental Rise Holding Limited ("Oriental Rise" or the "Company") (NasdaqCM: ORIS), an integrated supplier of tea products in mainland China, today announced the closing of its initial public offering (the "Offering") of 1,750,000 ordinary shares at a public offering price of $4 per share. The ordinary shares began trading on Nasdaq Capital Market under the ticker symbol "ORIS" on October 17, 2024.

The Company received aggregate gross proceeds of $7 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriter an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 262,500 ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering was conducted on a firm commitment basis.

US Tiger Securities, Inc. acted as sole book runner for the Offering. The Crone Law Group served as counsel to the Company. VCL Law LLP served as counsel to the underwriter.

A registration statement on Form F-1, as amended (File No. 333-274976) relating to the Offering was previously filed with the Securities and Exchange Commission ("SEC") by the Company, ...