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Etoiles Capital Group Co., Ltd (EFTY) priced its initial public offering of 1,400,000 Class A ordinary shares at $4.00 per share, according to a company statement. The Hong Kong-based financial services firm expects to receive gross proceeds of $5.6 million before underwriting discounts and expenses.
The Class A ordinary shares received approval for listing on the Nasdaq Capital Market and are expected to begin trading on August 8, 2025, under the ticker symbol "EFTY." The offering is scheduled to close around August 11, 2025, subject to customary closing conditions.
The company granted underwriters a 45-day option to purchase up to an additional 210,000 Class A ordinary shares at the public offering price, less underwriting discounts. Prime Number Capital, LLC served as representative underwriter and sole book-runner for the offering.
Etoiles Capital stated it will use proceeds from the offering for business expansion, technology infrastructure, strategic marketing, and general corporate purposes. The company operates through its Hong Kong subsidiary, Etoiles Consultancy Limited, providing financial advisory services, capital markets services, and solutions including corporate financing, IPO consulting, and investor relations.
A registration statement on Form F-1 relating to the offering was filed with the U.S. Securities and Exchange Commission and declared effective on August 7, 2025. The offering was conducted on a firm commitment basis.
Legal counsel for the transaction included Loeb & Loeb LLP as U.S. counsel to the company, Ogier as Cayman Islands counsel to the company, and Ye & Associates, P.C. as U.S. counsel to the underwriting syndicate.