Summary by Moomoo AI
JBDI Holdings Limited successfully completed its initial public offering on August 28, 2024, raising $11.25 million by offering 2.25 million ordinary shares at $5.00 per share. The company offered 1.75 million shares, while selling shareholders offered 500,000 shares. Trading commenced on Nasdaq Capital Market under the symbol "JBDI" on August 27, 2024.The company netted approximately $6.73 million after deducting underwriting discounts and expenses. Wilson-Davis & Co., Inc. acted as the lead underwriter for the offering. The IPO was conducted through a registration statement on Form F-1, which was declared effective by the SEC on August 26, 2024.All existing shareholders agreed to a 6-month lock-up period, restricting the sale of their shares without prior consent from the underwriter's representative. JBDI specializes in environmentally friendly reconditioning and recycling services for drums and containers across Southeast Asia, with nearly four decades of industry experience.
