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Investing.com -- Vantage Corp shares started trading at $4.39 on the NYSE American on Thursday, marking a 9.75% increase from its initial public offering (IPO) price of $4.00 per share.
The shipbroking company raised $13 million in its IPO by selling 3,250,000 Class A Ordinary Shares, before deducting underwriting discounts and other offering expenses.
Vantage, which provides comprehensive services including brokerage, consultancy, and operational support in the tanker market, is trading under the ticker symbol "NYSE:VNTG".
The company has given underwriters a 45-day option to purchase up to an additional 487,500 Class A Ordinary Shares at the public offering price to cover any over-allotments. The offering is expected to close on or about June 13, 2025, subject to customary closing conditions.
Network 1 Financial Securities, Inc. is serving as the sole managing underwriter and bookrunner for the initial public offering.
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