CTRL Group said Wednesday it priced its initial public offering of 2 million ordinary shares at $4 per share for gross proceeds of $8 million.

The company, a marketing and advertising services provider in Hong Kong, said the ordinary shares are expected to start trading on the Nasdaq under the symbol "MCTR" on Jan. 22.

CTRL Group also said it has granted the underwriters a 45-day option to buy up to an additional 300,000 ordinary shares at the public offering price, less discounts.

The company said proceeds from the offering, which is expected to close on or about Jan. 23, will be used mainly for expanding to other regions, working capital as mobile game operator, acquisition of potential media companies and general working capital.