Summary by Moomoo AI
Reitar Logtech Holdings announced the full exercise of the over-allotment option by underwriters, led by Cathay Securities, Inc. This resulted in the sale of an additional 318,750 Class A Ordinary Shares at $4.00 per share, bringing the total gross proceeds from the IPO to approximately $9.8 million before deductions.The company's shares began trading on the Nasdaq Capital Market on August 23, 2024, under the symbol "RITR". Proceeds will be used to expand resources, invest in logistics facilities, build R&D capabilities, expand market coverage, invest in logistics projects, and for working capital. The IPO was conducted on a firm commitment basis, with Cathay Securities, Inc. acting as sole book runner and lead underwriter.Reitar Logtech Holdings provides comprehensive logistics solutions through its asset management and professional consultancy services, as well as construction management and engineering design services. The company connects capital partners and logistics operators while integrating innovative logistics technologies in its end-to-end solution business model.
