Marine fuels trading, broking firm Uni-Fuels Holdings announces US IPO pricing

Uni-Fuels Holdings (Uni-Fuels), the ultimate parent of Singapore-based marine fuels trading and brokerage firm Uni-Fuels Pte Ltd, on Tuesday (14 January) announced the pricing of its underwritten initial public offering of 2,100,000 Class A Ordinary Shares at a public offering price of USD 4.00 per share, for total gross proceeds of USD 8.4 million to the company, before underwriting discounts and commissions. 

All of the Class A Ordinary Shares are being offered by Uni-Fuels. The Class A Ordinary Shares began trading on the Nasdaq Capital Market under the ticker symbol “UFG” on 14 January. The Offering is expected to close on 15 January subject to satisfaction of customary closing conditions.

Uni-Fuels has granted the Underwriters an option to purchase up to 315,000 additional Class A Ordinary Shares within 45 days of the effective date of the company’s registration statement in relation to the IPO.

The total proceeds from the offering are expected to be approximately USD 9.66 million, if the Underwriters exercise their option to purchase the additional Class A Ordinary Shares in full.

Uni-Fuels intends to use the proceeds from the IPO for scaling up its reselling activities to gain market share from existing and new markets; for strengthening its workforce and expanding its market presence in new geographical locations; and cash reserve and general corporate purposes.

A registration statement on Form F-1 relating to the shares being sold in IPO was initially filed with the U.S. Securities and Exchange Commission (SEC) on 28 October 2024; and was declared effective by the SEC on 10 January 2025.

Manifold Times previously reported Uni-Fuels announcing its plans for an IPO on Nasdaq Capital Market.

Related: Marine fuels trading, broking firm Uni-Fuels Holdings files for IPO on Nasdaq

Photo credit: Uni-Fuels Holdings
Published: 15 January, 2025