Stock Track | Uni-Fuels Holdings Ltd (UFG) Soars 14.75% in Market Debut After Pricing $8.4 Million IPO

Stock Track

01-15

Uni-Fuels Holdings Ltd (UFG), a global provider of marine fuel solutions for shipping companies headquartered in Singapore, saw its shares soar 14.75% in pre-market trading on Tuesday after pricing its initial public offering (IPO).

The company priced its underwritten IPO of 2.1 million Class A ordinary shares at $4.00 per share, raising total gross proceeds of $8.4 million. The shares began trading on the Nasdaq Capital Market under the ticker symbol "UFG" on Tuesday.

Uni-Fuels, founded in 2021, aims to use the IPO proceeds to scale up its reselling activities, strengthen its workforce, expand market presence in new locations, and for general corporate purposes. The company has also granted underwriters an option to purchase up to an additional 315,000 shares within 45 days.

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