WASHINGTON (dpa-AFX) - Luda Technology Group Limited, a manufacturer and trader of stainless steel and carbon steel flanges and fittings products with an operation history of over 20 years, announced the pricing of its initial public offering of an aggregate 2.50 million ordinary shares at $4.00 per share.
The shares are expected to begin trading on the NYSE American under the ticker symbol LUD on February 27, 2025. The Offering is expected to close on or about February 28, 2025.
The company has granted the underwriter an option, exercisable for 45 days from the closing of this Offering to purchase up to an additional 375,000 ordinary shares at the Offering Price, representing 15% of the ordinary shares sold in the Offering.
Assuming that the Over-allotment is exercised, the company is expected to receive gross proceeds amounting to $11.5 million, before deducting underwriting discounts and commissions and estimated offering expenses.
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