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Investing.com -- UAE-based MICE and tourism services provider Ambitions Enterprise Management Co. L.L.C (NASDAQ:AHMA) began trading on the Nasdaq Capital Market Tuesday at $4.00/share, in-line with IPO pricing at $4.00 each.
The initial public offering (IPO) included 1,500,000 Class A ordinary shares, raising a total of $6 million before deducting underwriting discounts and related expenses.
The company, which specializes in meetings, incentives, conferences, and exhibitions services, serves a global client base by providing event management and travel solutions. Ambitions Enterprise Management is led by an experienced management team and maintains partnerships across the tourism and hospitality industries in the Middle East, Europe, Africa, and the Americas.
The company executes large-scale events for clients from various sectors and manages customized travel experiences, offering guided tour services throughout the UAE, neighboring countries, and other global destinations.
As part of the offering, underwriters have been granted a 45-day option to purchase up to an additional 15% of Class A Ordinary Shares at the public offering price, less underwriting discounts.
AC Sunshine Securities LLC and Univest Securities, LLC served as joint bookrunners for the offering.
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