JBDI Holdings Limited Announces Pricing of Initial Public Offering
JBDI Holdings Limited (“JBDI” or the “Company”) (NASDAQ: JBDI), a leading provider of environmentally friendly and efficient reconditioning and recycling services for drums and containers in Southeast Asia, has announced the pricing details for its initial public offering (the “Offering”). The Offering will consist of an aggregate of 2,250,000 ordinary shares priced at $5.00 per share, amounting to total gross proceeds of $11.25 million before deducting underwriting discounts and offering expenses.
Details of the Initial Public Offering
In this Offering, the Company is offering 1,750,000 ordinary shares while the selling shareholders will offer an additional 500,000 ordinary shares. It is worth noting that the Company will not receive any proceeds from the shares sold by the selling shareholders. The shares are set to commence trading on the Nasdaq Capital Market, and they will be listed under the ticker symbol “JBDI.”
Closing Procedures for the Offering
The closing of the Offering is anticipated to occur on or about August 28, 2024, pending customary closing conditions. This move marks a significant milestone in JBDI's expansion strategy, reinforcing its commitment to sustainable environmental practices.
Role of Underwriters
Wilson-Davis & Co., Inc. has taken on the role of lead underwriter and representative for this Initial Public Offering. Their expertise will guide the successful launch of JBDI on the public market.
Regulatory Compliance and Prospectus Availability
In compliance with regulations, a registration statement on Form F-1 has been filed with the United States Securities and Exchange Commission (the “SEC”). This statement was declared effective on August 26, 2024, allowing the Company to proceed with the proposed Offering. Potential investors can obtain electronic copies of the final prospectus relating to the Offering, ensuring they have the necessary information prior to investment.
Contacting Investor Relations
Interested parties can reach out to Wilson-Davis & Co., Inc. for detailed inquiries regarding the Offering. They can be contacted at their office location or via email to gain insights into the investment opportunity presented by JBDI Holdings Limited.
Company Overview
JBDI Holdings Limited is dedicated to environmental sustainability through its reconditioning and recycling services. Their operations extend throughout Southeast Asia, emphasizing the revitalization of drums and related containers. With a rich history spanning nearly four decades, JBDI has crafted a robust reputation for delivering quality services and products. They provide a diverse array of reconditioned steel and plastic drums and new containers, contributing to reducing waste and promoting environmental stewardship.
Commitment to Environmental Impact
At the heart of JBDI’s mission is the aim to achieve a zero environmental impact footprint. The Company seeks to maximize resource allocation while simultaneously reducing costs for its customers. This strategic approach not only benefits clients but also aligns with global sustainability goals.
Investor Relations Contact Information
Investors seeking further information may contact Matthew Abenante, IRC, President of Strategic Investor Relations, LLC. Matthew can be reached by phone or through email. His role focuses on fostering positive relationships with investors and providing them with updated insights on the Company’s performance and growth prospects.
Frequently Asked Questions
What is the primary business of JBDI Holdings Limited?
JBDI Holdings Limited specializes in environmentally friendly reconditioning and recycling services for drums and containers in Southeast Asia.
When will JBDI's shares begin trading?
The shares of JBDI Holdings Limited are scheduled to start trading on the Nasdaq Capital Market soon after the Offering closes.
What are the projected benefits of JBDI's IPO?
The IPO aims to raise funds to boost JBDI's growth strategy and ensure further investment in sustainable practices and technologies.
Who is facilitating JBDI's IPO?
Wilson-Davis & Co., Inc. is acting as the lead underwriter for the Initial Public Offering of JBDI Holdings Limited.
How can investors access the prospectus for the IPO?
Investors can obtain electronic copies of the final prospectus by visiting the SEC’s website or contacting the underwriters for more details.
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