By Chris Wack
BrilliA shares were down 9% at $3.64 in their first day of trading.
The Cayman Islands-based holding company for Bra Pro, a supplier of women's intimate apparel, and MAP, a fulfillment partner, on Wednesday priced initial public offering of 2.5 million shares at $4 a share.
The company has granted the underwriters a 45-day option to buy up to an additional 375,000 shares at the IPO price, less underwriting discounts and commissions.
The proceeds to BrilliA from the offering--assuming that the overallotment isn't exercised--before deducting underwriting discounts and commissions and estimated offering expenses are expected to be $10 million.
The shares are trading on the NYSE American under the ticker symbol BRIA. The Offering is expected to close Friday.
The company reported a profit of $3.1 million on sales of $55.8 million in its fiscal 2024 ended March 31, compared with a profit of $4.2 million on sales of $51.6 million a year earlier.
BrilliA intends to use the IPO proceeds to develop a digital marketing platform, open retail outlets and cover marketing expenses, as well as for general working capital and corporate purposes.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 27, 2024 10:59 ET (15:59 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。