New Century Logistics (BVI) Limited Announces IPO Closure

New Century Logistics (BVI) Limited (NCEW), an international freight forwarding company, has announced the closing of its initial public offering (IPO) of 1,500,000 ordinary shares at a price of $4.00 per share. This results in total gross proceeds of $6,000,000, before deductions for underwriting discounts and other expenses. Trading commenced on the Nasdaq Capital Market on December 18, 2024, under the symbol "NCEW."

The Company has granted underwriters a 45-day option to purchase an additional 225,000 shares at the offering price to cover over-allotments.

The IPO was conducted on a firm commitment basis, and the net proceeds will be utilized for business expansion, technology innovation, and enhancing warehousing and distribution capabilities, among other purposes.

Craft Capital Management LLC and R.F. Lafferty & Co., Inc. served as co-lead managing underwriters. Sichenzia Ross Ference Carmel LLP acted as U.S. counsel for the Company, while Hunter Taubman Fischer & Li LLC served as U.S. securities counsel for the underwriters.

The securities were offered under a registration statement on Form F-1 (File No. 333-274115), made effective by the U.S. Securities and Exchange Commission (SEC) on November 20, 2024. Post-effective amendments were filed in November and December 2024, with the final prospectus available on the SEC’s website.

Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations. Readers should not rely solely on these predictions, and forward-looking statements are subject to change.

About New Century Logistics (BVI)

New Century Logistics provides international freight forwarding services, assisting clients with importing and exporting goods. The company generates revenue primarily from air freight export shipments to North America, Europe, and Asia.

Contact:
[email protected]
New Century Logistics (BVI) Ltd
A-E 33/F King Palace Plaza
55 King Yip Street
Kwun Tong Hong Kong
www.nclogistics.com.hk