Luda Technology Group Limited Sets Price for $10M IPO Event
Luda Technology Group Limited Sets Price for $10 Million IPO Event
In an exciting new chapter for Luda Technology Group Limited, the company has announced the pricing of its initial public offering (IPO), set to raise significant capital. With a firm commitment of 2,500,000 ordinary shares, the offering is priced at $4.00 per share, aimed at investors looking to engage with a leading manufacturer in the steel sector.
Share Trading Begins Soon
The shares are expected to begin trading on the NYSE American under the ticker symbol "LUD" shortly, positioning the company in a robust market environment. Investors can anticipate an official commencement of trading, marking an important milestone for Luda Technology.
Underwriting Details
As with any IPO, Luda has established partnerships with experienced underwriters to facilitate this transition. Revere Securities LLC is taking the lead as the primary underwriter, ensuring that the IPO process runs smoothly. Additionally, Pacific Century Securities, LLC is contributing as the co-manager, underscoring the collaborative effort behind this significant event.
Understanding the Financial Framework
The gross proceeds from the offering are expected to reach approximately $11.5 million, should the underwriter's option for additional shares be exercised. This financial boost will surely help Luda enhance its operational capacity, paving the way for further growth and innovation in the stainless steel and carbon steel industry.
About Luda Technology Group Limited
With a rich history spanning over two decades, Luda Technology Group Limited stands as a prominent player in the manufacture and distribution of steel products. The journey began with Luda Development Limited in 2004, evolving into an established manufacturer of flanges and fittings. Their operational base in Taian City, Shandong Province, bolsters their capacity to serve a global clientele including businesses from Europe, South America, and the petrochemical sectors.
Market Presence and Expansion
As Luda prepares for its public offering, the dedicated sales network and expansive reach within major industries amplifies confidence in their market potential. Their customer base spans various continents and includes both manufacturers and traders, ensuring a diversified portfolio that thrives on international trade.
Looking Ahead
As Luda Technology Group Limited embarks on this new journey, both the company and its investors are poised for opportunities that come with being publicly traded. The transition to the NYSE under ticker "LUD" not only elevates the company's profile but also opens doors for growth fueled by market capital and new investments.
Frequently Asked Questions
What is the pricing of Luda's IPO?
The IPO is priced at $4.00 per share, with offerings totaling 2,500,000 shares.
When will trading start for Luda's shares?
The shares are expected to begin trading on the NYSE American under the symbol "LUD" soon.
Who is managing the IPO?
Revere Securities LLC is the primary underwriter, with Pacific Century Securities, LLC serving as the co-manager.
What is the anticipated gross proceeds from the IPO?
Should the over-allotment option be exercised, the gross proceeds are expected to reach approximately $11.5 million.
Where was Luda Technology Group established?
Luda Technology Group Limited was formed in Hong Kong, with a manufacturing facility in Taian City, Shandong Province, China.
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