Ten-League International Holdings Limited Announces Closing of Initial Public Offering
Rhea-AI Summary
Ten-League International Holdings (NASDAQ:TLIH), a Singapore-based provider of turnkey project solutions, has successfully completed its initial public offering. The company offered 2,240,000 ordinary shares at $4.00 per share, with 1,607,840 shares from the company and 632,160 from selling shareholders.
The IPO generated gross proceeds of $6.43 million for Ten-League. The funds will be allocated to expand product offerings, improve automation processes, pursue strategic acquisitions, enhance marketing efforts, repay bank debt, and support working capital needs. Trading began on the Nasdaq Capital Market on July 8, 2025, with Bancroft Capital serving as the sole underwriter.
[ "Successfully raised $6.43 million in gross proceeds from IPO", "Secured listing on Nasdaq Capital Market", "Clear allocation strategy for IPO proceeds including growth initiatives", "Firm commitment underwriting from Bancroft Capital" ]Positive
- None.
Negative
- Relatively small IPO size may limit institutional investor interest
- Portion of shares (632,160) sold by existing shareholders rather than for company growth
- Proceeds partially allocated to debt repayment rather than pure growth initiatives
News Market Reaction – TLIH
In the trading session that priced this news, TLIH gained 35.92%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SINGAPORE, July 09, 2025 (GLOBE NEWSWIRE) -- Ten-League International Holdings Limited (Nasdaq: TLIH) (the “Company” or “Ten-League”), a Singapore-based provider of turnkey project solutions, today announced the closing of its initial public offering (the “Offering”) of 2,240,000 ordinary shares, 1,607,840 of which were offered by the Company and 632,160 by selling shareholders, at a public offering price of US
The Company received aggregate gross proceeds of US
Proceeds from the Offering will be used for: (i) expanding the Company’s product offering; (ii) improving the Company’s automation process and investing in equipment and technology; (iii) expanding through strategic targeted acquisitions and investments; (iv) marketing and brand building; (v) repayment of bank borrowing, and (vi) working capital and other general corporate purposes.
The Offering was conducted on a firm commitment basis. Bancroft Capital, LLC acted as the sole underwriter for the Offering.
A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-275240), as amended, and was declared effective by the SEC on June 30, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, may be obtained from Bancroft Capital, LLC by email at investmentbanking@bancroft4vets.com, by standard mail to 501 Office Center Drive, Suite 130, Fort Washington, PA 19034, or by telephone at +1 (484) 546-8000. In addition, copies of the final prospectus relating to the Offering, when available, may be obtained via the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.
About Ten-League International Holdings Limited
Ten-League International Holdings Limited is a Singapore-based provider of turnkey project solutions. The Company’s business primarily consists of sales of heavy equipment and parts, heavy equipment rental and provision of engineering consultancy services to port, construction, civil engineering and underground foundation industries. The equipment is organized into four categories based on their functions and application scenarios: foundation equipment, hoist equipment, excavation equipment and port machinery. The Company also provides value-added engineering solutions under engineering consultancy services with the aim to address potential safety issues, enhance reliability and productivity and allow for customers to evaluate the performance of the equipment, the quality of the work completed and the progress of their projects. Ten-League’s mission is to provide high-quality equipment, value-added engineering solutions as well as maintenance and repair through continuous adaptation and application of new technologies. For more information, please visit the Company’s website: https://ir.ten-league.com.sg/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For more information, please contact:
Ten-League International Holdings Limited
Investor Relations Department
Email: ir@ten-league.com.sg
Ascent Investor Relations LLC
Tina Xiao
Phone: +1 646-932-7242
Email: investors@ascent-ir.com
