Aureus Greenway Holdings Inc. (AGH), a Florida-based golf course operator, saw its stock soar 9.25% in the pre-market trading session on Wednesday, after pricing its initial public offering (IPO) of 3.8 million shares at $4.00 per share, raising $15 million in gross proceeds.
The company announced late Tuesday that it will offer 3 million shares, while certain stockholders will sell the remaining shares. AGH's shares are expected to begin trading on the Nasdaq under the ticker symbol "AGH" on Wednesday, with the IPO expected to close on Thursday.
The strong demand for AGH's IPO, which values the company at around $60 million based on the offering price and outstanding shares, reflects investor optimism in the golf industry's growth prospects, particularly in Florida, where the company operates several golf courses.
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