707 Cayman Stock Climbs After IPO Closes

Dow Jones

06/11

By Dean Seal

Shares of 707 Cayman Holdings jumped in its first trading day after the company closed its initial public offering.

The stock was up 15% at $4.62 in the morning trading session.

The Hong Kong-based apparel seller said Tuesday afternoon that it has closed the offering of 2.5 million shares at $4 apiece for gross proceeds of $10 million, before underwriting discounts and offering expenses.

70 Cayman sold 1.75 million of those shares, while selling shareholders sold another 750,000.

The company said it received $5.2 million of net proceeds, which will be used for potential brand acquisitions or licensing, branding and marketing, hiring additional staff, revamping its website, digitizing its systems, replaying interest-free loans and for general corporate purposes.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 11, 2025 10:55 ET (14:55 GMT)

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