New Century Logistics prices 1.5M shares at $4.00 in initial public offering

New Century Logistics (NCEW) announces the pricing of its initial public offering of 1.5M ordinary shares at a public offering price of $4.00 per share for total gross proceeds of $6M, before deducting underwriting discounts and other related expenses. The company’s ordinary shares have been approved for listing on the Nasdaq Capital Market and trading is expected to begin under the symbol “NCEW.” The company intends to use the net proceeds from the offering for business expansion, technology innovation, enhancement of warehousing and distribution capabilities, personnel recruitment, and general working capital. The offering is being conducted on a firm commitment basis. Craft Capital Management and R.F. Lafferty are acting as co-lead managing underwriters for the offering.