NEW YORK - Intelligent Group Limited, a Hong Kong-based financial public relations company, has set the price for its initial public offering (IPO) at $4 per ordinary share. The shares are expected to begin trading on the Nasdaq Capital Market today under the ticker symbol NASDAQ:INTJ, with the offering anticipated to close on March 22, 2024, pending customary closing conditions.
The IPO comprises 1,875,000 ordinary shares, with the company estimating net proceeds of approximately $6.2 million after underwriting discounts and offering expenses. These funds are earmarked for the development and commercialization of Intelligent Group's technologies and products, as well as for working capital and other corporate purposes.
Additionally, the company has allowed underwriters a 45-day option to buy up to an extra 281,250 shares at the offering price minus underwriting discounts and commissions. WestPark Capital, Inc. is serving as the sole book-running manager for the IPO.
Legal counsel for the offering includes Loeb & Loeb LLP for Intelligent Group and Haneberg Hurlbert PLC for WestPark Capital, with Ogier providing advice as British Virgin Islands legal counsel to the company.
The offering is being made pursuant to Intelligent Group's Registration Statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission (SEC) on February 28, 2024. Potential investors are advised to read the prospectus and other documents filed with the SEC for more comprehensive information about the company and the IPO.
Intelligent Group specializes in financial public relations services, offering press conferences, news release preparation, investor targeting, corporate event organization, and crisis management, among other services.
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