Concorde International Group has announced the pricing of its initial public offering, unveiling 1,250,000 Class A ordinary shares at $4.00 each. These shares have received approval for listing on the Nasdaq Capital Market, with trading anticipated to begin on April 22, 2025, under the symbol "CIGL."
The company aims to generate gross proceeds of approximately $5 million from this offering, prior to subtracting underwriting and additional related expenses. Additionally, Concorde International has provided the underwriters with a 45-day option to acquire up to 187,500 extra Class A ordinary shares at the original price, excluding underwriting discounts.
The offering is scheduled to be finalized around April 23, contingent upon the fulfillment of standard closing requirements. The funds secured through this IPO will be directed towards various strategic initiatives including the acquisition and deployment of electric vehicular mobile command centres, as well as research and development. The company also plans to invest in regional market growth, explore new markets, engage in product development, and support general corporate activities.
The IPO was executed on a firm commitment basis, with R.F. Lafferty & Co. serving as the sole book-running manager for this offering.
