Auto Parts IPOs » By The Online Investor Staff, updated Thu., Dec. 4, 2:35 PMRecent initial public offerings in the Auto Parts IPOs category.
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Slide #1. Mingteng International Corporation Inc. — Initial Public Offering
Company:
Mingteng International Corporation Inc.
Proposed Symbol:
MTEN
Shares Offered:
1,275,000
Price Per Share:
$4.00
Over-Allotment:
157,500
Description:
Mingteng International Corporation Inc. (the "Company" or "Mingteng International"), an automotive mold developer and supplier in China, today announced the pricing of its initial public offering (the "Offering") of 1,275,000 ordinary shares, 1,050,000 of which are being offered by the Company and 225,000 by a selling shareholder, at a public offering price of US$4.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 18, 2024, U.S. Eastern time, under the ticker symbol "MTEN." The Company expects to receive aggregate gross proceeds of US$5.1 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 157,500 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about April 22, 2024, subject to the satisfaction of customary closing conditions.
