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HONG KONG - Etoiles Capital Group Co., Ltd (NASDAQ:EFTY), a Hong Kong-based financial services provider, announced Monday the completion of its initial public offering, raising $5.6 million in gross proceeds. According to InvestingPro data, the stock has shown significant momentum since its debut, with shares now trading at $4.72, up from the IPO price.
The company sold 1.4 million Class A Ordinary Shares at $4.00 per share. Etoiles has also granted underwriters a 45-day option to purchase up to an additional 210,000 shares at the public offering price, less underwriting discounts.
Trading of the shares began on the Nasdaq Capital Market on August 8 under the ticker symbol "EFTY."
The company plans to use proceeds from the offering for business expansion, technology infrastructure improvements, strategic marketing initiatives, and general corporate purposes.
Prime Number Capital, LLC served as the representative underwriter and sole book-runner for the offering, which was conducted on a firm commitment basis.
The IPO follows the SEC’s declaration of effectiveness for the company’s registration statement on Form F-1 on August 7.
Etoiles Capital Group operates through its Hong Kong subsidiary, Etoiles Consultancy Limited, providing integrated financial advisory, capital markets solutions, and initial public offering consulting services to corporate clients.
This information is based on a company press release statement.
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