D. Boral Capital Acted as Sole Bookrunner to Phoenix Asia Holdings Limited (Nasdaq:PHOE) in Connection With Its $6.4 Million Initial Public Offering

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[{"type":"text","content":"NEW YORK, NY / ACCESS Newswire / May 1, 2025 / On April 28, 2025, Phoenix Asia Holdings Limited (Nasdaq:PHOE) (the "Company" or "PHOE"), a premier substructure contractor for public and private sector projects in Hong Kong, announced the closing of its initial public offering (the "Offering") of 1,600,000 ordinary shares (the "Ordinary Shares") at a public offering price of $4.00 per share for total gross proceeds of $6,400,000, before deducting underwriting discounts and other offering expenses. The Offering closed on April 28, 2025, and the Ordinary Shares commenced trading on Nasdaq Capital Market on April 25, 2025, under the ticker symbol "PHOE".","length":708,"tagName":"p"},{"type":"text","content":"The Company has granted the underwriters an option, within 45 days from the closing date of the Offering, to purchase up to an additional 240,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover the over-allotment option, if any.","length":264,"tagName":"p"},{"type":"text","content":"The Offering was conducted on a firm commitment basis. D. Boral Capital LLC acted as the sole book-running manager for the Offering. CFN Lawyers LLC acted as U.S. counsel to the Company, and Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to the underwriter in connection with the Offering.","length":298,"tagName":"p"},{"type":"text","content":"The Company intends to use 35% of the proceeds from this Offering for enhancing our capacities in hiring additional staff, 15% for acquiring innovative machinery to enhance our productivity and service capacity, 10% for enhancing its brand, "Winfield", and the remaining 40% for working capital and other general corporate purposes.","length":342,"tagName":"p"},{"type":"text","content":"A registration statement on Form F-1 (File No. 333-284260) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on April 24, 2025. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained from D. Boral Capital LLC at Syndicate Department, 590 Madison Avenue, 39th floor, New York, NY 10022, or via email at [email protected] or telephone at +1 (212...

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