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Investing.com -- Baiya International Group Inc., also known as BIYA, announced the pricing of its initial public offering (IPO) on Friday. The company priced 2,500,000 ordinary shares at $4.00 each. However, the shares opened at $3.80, which is $0.20 lower than the offering price.
The ordinary shares of BIYA started trading on the Nasdaq Capital Market on March 21, 2025, under the ticker symbol "BIYA".
In addition to the initial offering, BIYA has granted the underwriters a 45-day option to buy up to an additional 375,000 ordinary shares at the initial public offering price. This option is known as the "Overallotment". After deducting underwriting discounts and commissions, and estimated offering expenses payable by BIYA, the gross proceeds from the offering are expected to be approximately $10,000,000. This estimate assumes that the Overallotment option is not exercised.
The offering is being conducted on a firm commitment basis. Cathay Securities, Inc. is the representative of the underwriters for the offering. Revere Securities LLC is also involved, acting as a co-underwriter.
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