Core Viewpoint - Webus International Limited has successfully closed its initial public offering, raising $8 million by offering 2 million ordinary shares at a price of $4.00 per share, with potential additional proceeds from an over-allotment option [1][2][3]. Group 1: Offering Details - The initial public offering consisted of 2,000,000 ordinary shares priced at $4.00 each, resulting in gross proceeds of $8,000,000 before expenses [1][2]. - The company has granted underwriters a 45-day option to purchase an additional 300,000 shares, which could increase total gross proceeds to approximately $9.2 million if exercised [2][3]. - The shares began trading on the Nasdaq Capital Market under the ticker symbol "WETO" on February 27, 2025 [2]. Group 2: Company Overview - Webus International Limited specializes in AI-driven mobility solutions, focusing on premium, customizable chauffeur services globally [7]. - The company's flagship brand, "Wetour," offers high-end travel services, including airport transfers and luxury chartered services, utilizing proprietary technology for real-time AI support and multilingual itinerary management [8].
Webus International Limited Announces Closing of Initial Public Offering