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Investing.com -- BUUU Group Limited (NASDAQ:BUUU) started trading on the Nasdaq Capital Market Thursday, with shares priced at $4.00 per share, matching its initial public offering (IPO) price.
The Hong Kong-based meetings, incentives, conferences and exhibitions solutions provider priced its IPO of 1.5 million Class A ordinary shares at $4.00 per share on Wednesday. The company expects to raise $6 million in gross proceeds from the offering.
BUUU Group has granted underwriters a 45-day option to purchase an additional 225,000 shares at the offering price, representing 15% of the shares sold. If this option is exercised fully, gross proceeds would increase to $6.9 million before expenses.
Dominari Securities LLC is serving as the representative of the underwriters for the offering, with Revere Securities LLC and Pacific Century Securities LLC acting as co-underwriters.
The company plans to use the net proceeds to enhance brand recognition, fund marketing initiatives, expand services, integrate technology, and support expansion into U.S. and Southeast Asia markets, along with general corporate purposes.
BUUU Group provides event management and stage production services to various clients including public institutions, marketing firms, real estate corporations and other established brands.
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