Oriental Rise Holding Limited announced on October 23, 2024, that US Tiger Securities, Inc., the underwriter for its initial public offering, fully exercised its over-allotment option. The underwriter purchased an additional 262,500 ordinary shares of the company.
These additional shares were acquired at the IPO price of $4.00 per share. As a result of this exercise, the total gross proceeds raised by Oriental Rise from its IPO increased to $8.05 million.
The company issued a total of 2,012,500 ordinary shares in the IPO, before underwriting discounts and other related expenses. This additional capital provides Oriental Rise with more resources for its stated corporate purposes, including expansion and operational improvements.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.