Oriental Rise Holding Limited announced the closing of its initial public offering on October 18, 2024. The company issued 1,750,000 ordinary shares at a public offering price of $4 per share.
The offering resulted in aggregate gross proceeds of $7 million for the company, before deducting underwriting discounts and other related expenses. This capital infusion is intended to support Oriental Rise's operational and expansion initiatives.
Additionally, the company had granted the underwriter an option, exercisable within 45 days, to purchase up to an additional 262,500 ordinary shares at the public offering price, less underwriting discounts and commissions.
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