India, April 21 -- TMD Energy Ltd. announced Monday the pricing of its initial public offering of 3.1 million ordinary shares at a price to public of US$3.25 per Share for the total gross proceeds of approximately US$10.08 million, before deducting underwriting discounts and other related expenses, assuming the underwriters do not exercise their over-allotment option to purchase additional Shares.
The Shares will begin trading on April 21, 2025, U.S. Eastern time, on the NYSE American under the symbol "TMDE". The Offering is expected to close on April 22, 2025, subject to customary closing conditions.
The Company has granted the underwriter a 45-day option to purchase up to an aggregate of 465,000 additional Shares to cover over-allotment...