New Century Logistics Announces Initial Public Offering Plans

New Century Logistics Details Initial Public Offering

New Century Logistics (BVI) Limited, an international freight forwarding and logistics service provider, recently announced its initial public offering (IPO) pricing. The company plans to issue 1,500,000 ordinary shares at a public offering price of $4.00 per share. This pricing sets the stage for total gross proceeds of approximately $6 million, which will significantly bolster the company’s financial standing.

Trading Information

The company's ordinary shares have received approval for listing on the Nasdaq Capital Market. Trading is expected to commence shortly under the symbol "NCEW". This step marks a crucial point in New Century's journey as it seeks broader market access and increased visibility in the competitive logistics industry.

Use of Proceeds

The funds raised through the IPO are earmarked for several key areas, including business expansion efforts, advancements in technology, enhancements in warehousing and distribution capabilities, as well as recruiting new personnel. This strategic allocation of resources highlights New Century’s commitment to improving its service offerings while positioning itself for future growth.

Underwriting and Options

In an additional move to support this offering, the company has granted underwriters a 45-day option to purchase up to an extra 225,000 ordinary shares at the public offering price. This option serves as an essential safety net to cover any over-allotments that might arise during the IPO process.

Leadership and Oversight

The IPO will be managed by Craft Capital Management LLC and R.F. Lafferty & Co., Inc., serving as co-lead managing underwriters. The involvement of such reputable firms underscores the confidence in New Century Logistics and its growth prospects. In addition, Sichenzia Ross Ference Carmel LLP is providing legal counsel to the company, while Hunter Taubman Fischer & Li LLC acts as counsel for the underwriting firms.

Registration and Compliance

The registration statement on Form F-1 relating to this offering was declared effective by the U.S. Securities and Exchange Commission (SEC). The diligent regulatory process is crucial for ensuring compliance with securities laws, which protects the interests of potential investors while fostering trust in the market.

About New Century Logistics

New Century Logistics specializes in international freight forwarding. The company assists clients with both importing and exporting goods, managing various logistics functions. Their services include arranging shipments, cargo space sales, customs clearance, and handling at ports. Connecting markets across North America, Europe, and Asia, the company aims to enhance trade and bolster economic connectivity.

Future Prospects

Leveraging the new capital from the IPO allows New Century Logistics to aggressively pursue technological advancements and more efficient processes that will enhance service delivery. This growth strategy positions the company well amid increasing competition within the logistics sector, setting it on a path for sustained success.

Frequently Asked Questions

What is the purpose of New Century Logistics’ IPO?

The IPO aims to raise $6 million to expand the company's business, invest in technology, and enhance its warehousing and distribution capabilities.

When will trading of the shares commence?

Trading is expected to begin under the symbol "NCEW" shortly following the IPO.

Who are the underwriters for this offering?

Craft Capital Management LLC and R.F. Lafferty & Co., Inc. are the lead underwriters managing the IPO.

What are the expected uses of the funds raised?

The funds will be used for business expansion, technology innovation, recruitment, and general working capital.

What services does New Century Logistics provide?

New Century Logistics specializes in freight forwarding and logistics services, assisting with shipping, customs clearance, and cargo handling for global markets.

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