Royal Treasure Securities is pleased to announce its successful role as a selling group member in the initial public offering (IPO) of Primega Group Holdings Limited (“PGHL” or the “Company”). The offering comprised 1,500,000 units of the Company, priced at$4.00 per unit. Additionally, a selling shareholder is offering 250,000 ordinary shares of the Company at $4.00 per share resulting in gross proceeds of approximately US$7 million.
Primega Group Holdings Limited is a provider of transportation services that employs environmentally friendly practices with the aim of facilitating reuse of construction and demolition materials and reduction of construction waste. Through an operating subsidiary in Hong Kong, the Company operates in the construction industry, mainly handling transportation of materials excavated from construction sites. The services principally comprise of (i) soil and rock transportation services; (ii) diesel oil trading; and (iii) construction works, which mainly include excavation and lateral support works and bored piling. The Company generally provides its services as a subcontractor to other construction contractors in Hong Kong.
Primega Group Holdings Limited began trading on the Nasdaq on July 23, 2024, under the ticker symbol “PGHL”. Bancroft Capital LLC served as the sole book-running manager for the offering, with Royal Treasure Securities LLC as the selling group member.