Creative Global Technology (CGTL.US) announces IPO terms.
According to the Zhitong Finance APP, the electronic product recycler Creative Global Technology (CGTL.US) announced the IPO terms, issuing 1.3 million shares at a price of $4 per share, raising $5 million. The IPO pricing is at the lower end of the proposed range of $4 to $5. Based on the pricing, the company's market cap is $85 million. Creative Global Technology's common stock will begin trading on the Nasdaq on November 26 (Tuesday) Eastern Time, with the stock code 'CGTL.'
It is reported that Creative Global Technology sells used consumer electronics primarily smart phones, tablets, and laptops to wholesalers in Southeast Asia through its subsidiary CGTHK. The company sources products from suppliers in the USA, japan, and some other developed countries.
Benjamin Securities is the underwriter for this IPO issuance.