Ten-League International Holdings Limited Announces Pricing of Initial Public Offering

Rhea-AI Summary

Ten-League International Holdings (NASDAQ:TLIH), a Singapore-based provider of turnkey project solutions, has announced the pricing of its initial public offering at $4.00 per ordinary share. The IPO consists of 2,240,000 ordinary shares, with 1,607,840 shares offered by the company and 632,160 by selling shareholders.

The company expects to raise gross proceeds of $6.43 million from the offering. Trading is set to commence on July 8, 2025, on the Nasdaq Capital Market under the symbol "TLIH". The IPO proceeds will fund product expansion, automation improvements, strategic acquisitions, marketing initiatives, bank debt repayment, and working capital.

Positive

• IPO provides fresh capital of $6.43 million for business expansion
• Listing on NASDAQ increases visibility and access to capital markets
• Clear allocation of proceeds towards growth initiatives and debt reduction
• Strategic focus on automation and technology improvements

Negative

• Relatively small IPO size may limit institutional investor interest
• Significant portion (28.2%) of shares sold by existing shareholders rather than for company growth
• Potential dilution for existing shareholders

Insights

IPO Specialist

Ten-League prices its IPO at $4 per share, raising $6.43M gross proceeds with plans for expansion and automation.

Ten-League International Holdings Limited has priced its IPO at $4.00 per ordinary share, offering a total of 2,240,000 shares. The Singapore-based provider of turnkey project solutions is splitting the offering between company shares (1,607,840) and selling shareholders (632,160). The company expects to receive gross proceeds of $6,431,360 before deducting underwriting costs and related expenses.

The IPO structure involves a firm commitment underwriting led by Bancroft Capital as the sole underwriter. This arrangement means the underwriter has committed to purchase all offered shares and assumes the risk of selling them to the public.

Ten-League's planned use of proceeds demonstrates a multi-pronged growth strategy: expanding product offerings, improving automation processes, pursuing strategic acquisitions, marketing initiatives, debt repayment, and working capital. This diversified approach suggests management is balancing investments in organic growth, technological advancement, and financial stability.

For a Singapore-based company achieving a Nasdaq Capital Market listing (under ticker TLIH), this represents a significant milestone in accessing U.S. capital markets. The relatively modest offering size ($6.43M gross) positions this as a small-cap IPO, which typically faces greater volatility and liquidity challenges than larger offerings. The decision to include selling shareholders in the IPO structure also indicates early investors are taking this opportunity to realize some returns.

SINGAPORE, July 08, 2025 (GLOBE NEWSWIRE) -- Ten-League International Holdings Limited (the “Company” or “Ten-League”), a Singapore-based provider of turnkey project solutions, today announced the pricing of its initial public offering (the “Offering”) of 2,240,000 ordinary shares, 1,607,840 of which are being offered by the Company and 632,160 by selling shareholders, at a public offering price of US$4.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 08, 2025 under the ticker symbol “TLIH.”

The Company expects to receive aggregate gross proceeds of US$6,431,360 from the Offering, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about July 09, 2025, subject to the satisfaction of customary closing conditions.

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 is being conducted on a firm commitment basis. Bancroft Capital, LLC is acting 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 is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, 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.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. 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, including, but not limited to, the Company's proposed Offering. 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, including the expectation that the Offering will be successfully completed. 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 

FAQ

What is the IPO price for Ten-League International Holdings (TLIH) stock?

Ten-League International Holdings has priced its IPO at $4.00 per ordinary share.

How many shares is Ten-League International Holdings (TLIH) offering in its IPO?

The company is offering a total of 2,240,000 ordinary shares, with 1,607,840 shares from the company and 632,160 from selling shareholders.

When will Ten-League International Holdings (TLIH) start trading on NASDAQ?

Ten-League International Holdings is expected to begin trading on the Nasdaq Capital Market on July 8, 2025, under the symbol 'TLIH'.

How much money will Ten-League International Holdings (TLIH) raise in its IPO?

The company expects to receive gross proceeds of $6,431,360 from the IPO, before deducting underwriting discounts and other expenses.

How will Ten-League International Holdings (TLIH) use its IPO proceeds?

The proceeds will be used for expanding product offerings, improving automation, strategic acquisitions, marketing, bank debt repayment, and working capital.