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The IPO Buzz: Hong Kong’s PTL Limited (PTLE) Prices IPO at $4 – Low End

Wednesday, October 16, 2024 2:37

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PTL Limited (PTLE), the parent of Petrolink Energy Limited of Hong Kong, priced its micro-IPO at $4.00 – the low end of its range – and sold 1.25 million shares – the number of shares in the prospectus – to raise $5.0 million on Tuesday night, Oct. 15, 2024. The stock is expected to start trading Wednesday, Oct. 16, 2024, on the NASDAQ. The terms in the prospectus called for a price range of $4.00 to $6.00. PTL Limited, the holding company, is incorporated in the British Virgin Islands. Dominari served as the lead book-runner with Revere Securities as a joint underwriter. Petrolink Energy Limited is a marine fuel bunkering facilitator based in Hong Kong. The company is profitable. PTL Limited reported net income of $0.94 million – or $940,000 – on revenue of $102.11 million for the year that ended Dec. 31, 2023. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.

Source: https://www.iposcoop.com/the-ipo-buzz-hong-kongs-ptl-limited-ptle-prices-ipo-at-4-low-end/

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