- Concorde International Group (CIGL, Financial) successfully raises $5 million through its IPO.
- CIGL shares begin trading on Nasdaq Capital Market under ticker 'CIGL'.
- Proceeds to be used for expansion in electric vehicular mobile command centers and R&D.
Concorde International Group Ltd. (NASDAQ: CIGL), a security services provider based in Singapore, has completed its initial public offering (IPO), successfully raising $5 million in gross proceeds. The offering involved the sale of 1,250,000 Class A ordinary shares at a price of $4.00 per share. Trading commenced on the Nasdaq Capital Market on April 22, 2025, under the ticker symbol 'CIGL'.
The underwriters of this firm commitment offering have been granted a 45-day option to purchase up to an additional 187,500 shares at the initial public offering price, providing potential for expanded capital acquisition should investor demand justify it. R.F. Lafferty & Co. served as the sole book-running manager for the IPO.
The net proceeds from the IPO are earmarked for strategic growth initiatives which include the purchase and deployment of electric vehicular mobile command centers, conducting research and development activities, regional market development and exploration of new markets, as well as product development. The funds raised will also support working capital and general corporate purposes.
This move marks a significant milestone for the company, offering enhanced visibility and potential future access to capital markets, though the relatively modest size of the IPO by Nasdaq standards could limit immediate expansion capacity.
