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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。