Core Viewpoint - Galaxy Payroll Group Limited has announced its initial public offering (IPO) of 1,750,000 ordinary shares at a price of $4.00 per share, aiming for total gross proceeds of $7,000,000, with trading expected to begin on Nasdaq under the ticker symbol "GLXG" [1][2]. Group 1: Offering Details - The IPO includes an option for the underwriter to purchase an additional 262,500 ordinary shares to cover over-allotments, exercisable within 45 days from the effective date [2]. - The offering is being conducted on a firm commitment basis, with R.F. Lafferty & Co., Inc. serving as the sole underwriter [3]. Group 2: Use of Proceeds - The proceeds from the offering will be allocated as follows: 20% for brand promotion and marketing, 20% for recruitment of talented personnel, 20% for expansion of new offices and servicing scope, 20% for enhancement of IT systems, and 20% for general working capital [4]. Group 3: Company Background - Galaxy Payroll Group Limited is based in Hong Kong and specializes in payroll outsourcing, employment services, and market research, serving clients across various Asian countries [7]. - The company caters to global human resources service providers and multinational companies that outsource payroll and employment functions [7].
Galaxy Payroll Group Limited Announces Pricing of Its Initial Public Offering