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Investing.com -- Cre8 Enterprise Limited (NASDAQ:CRE), a Hong Kong-based integrated financial printing service provider, started trading on the Nasdaq Capital Market on Wednesday at $4 per share, matching its initial public offering (IPO) pricing.
The company priced its IPO of 1,450,000 Class A ordinary shares at $4.00 per share on Tuesday, generating gross proceeds of approximately $5.8 million before deducting underwriting discounts and other offering expenses.
Cre8 Enterprise has granted the underwriters a 45-day option to purchase up to an additional 217,500 Class A ordinary shares at the IPO price, representing 15% of the shares sold in the offering.
American Trust Investment Services, Inc. is serving as the representative of the underwriters, while Prime Number Capital, LLC is acting as co-underwriter for the offering.
The company plans to use the net proceeds to upgrade its office in the Central District in Hong Kong, expand its business operations, grow its workforce, provide staff training, upgrade or acquire equipment and information technology systems, and for working capital and other general corporate purposes.
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