FBS Global Limited Announces Closing of Initial Public Offering

Core Points - FBS Global Limited has successfully closed its initial public offering, raising a total of US$10,125,000 by selling 2,250,000 ordinary shares at a price of US$4.50 per share [1][2] - The ordinary shares began trading on the Nasdaq Capital Market under the symbol "FBGL" on February 6, 2025 [2] - The company plans to utilize the net proceeds for business expansion, research and development of green building materials, and potential strategic partnerships [2] Offering Details - The company has granted underwriters a 45-day option to purchase up to 337,500 additional ordinary shares, which is 15% of the shares sold in the offering, to cover over-allotments [3] - WallachBeth Capital LLC is the Sole Book-Running Manager, while Revere Securities LLC is the Co-Manager for the offering [4] - The offering was conducted under the company's registration statement on Form F-1, which was declared effective by the SEC on February 5, 2025 [5] Company Background - FBS Global is a Singapore-based green building contractor with over 20 years of experience in various building projects, including institutional, residential, commercial, and industrial [7] - The company focuses on green construction methods and the use of sustainably-sourced and environmentally responsible materials [7]