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Singapore, April 22, 2025 (GLOBE NEWSWIRE) -- Concorde International Group Ltd. (NASDAQ: CIGL) (“Concorde” or the “Company”), an integrated security services provider that combines physical manpower and innovative technology to deliver effective security solutions, today announced the pricing of its initial public offering (the "Offering") of 1,250,000 Class A ordinary shares (the "Class A Ordinary Shares") at a public offering price of US$4.00 per share. The Class A Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 22, 2025, under the ticker symbol "CIGL.”
The Company expects to receive aggregate gross proceeds of US$5.0 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45- day option to purchase up to an additional 187,500 Class A Ordinary Shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about April 23, 2025, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from this Offering for or purchase and rollout of electric vehicular mobile command centers, research and development activities, regional market development and exploration of new markets, product development, working capital and general corporate purposes.
The Offering was conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. ("R.F. Lafferty") acted as sole book-running manager for the Offering.
A registration statement on Form F-1 (File No. 333-281799) 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 March 31, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement, and a free writing prospectus. Copies of the final prospectus related to the Offering may be obtained from R.F. Lafferty by email at offerings@rflafferty.com or via standard mail to R.F. Lafferty & Co., Inc, 40 Wall Street, 27th Floor, New York, NY10005. In addition, a copy of the final prospectus can also be obtained via the SEC's website at www.sec.gov.
Before you invest, you should read the prospectus, the free writing prospectus, and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.