Uni-Fuels Holdings Limited, a Singapore-based global provider of marine fuel solutions, has announced that the underwriter of its initial public offering (IPO) has fully exercised its over-allotment option. This move, completed on 4 February 2025, resulted in the purchase of an additional 315,000 Class A Ordinary Shares at $4.00 per share, generating an extra $1.26 million in gross proceeds. Consequently, the total shares sold in the offering have increased to 2,415,000, raising the gross proceeds to $9.66 million.
The company’s Class A Ordinary Shares began trading on the Nasdaq Capital Market on 14 January 2025 under the ticker symbol “UFG”. The proceeds from the IPO are earmarked for expanding Uni-Fuels’ reselling activities, strengthening its workforce, and enhancing its market presence in new geographical locations. Additionally, funds will be allocated for cash reserves and general corporate purposes.
R. F. Lafferty & Co., Inc. served as the sole book-running manager for the offering, which was conducted on a firm commitment basis. The registration statement for the shares was filed with the U.S. Securities and Exchange Commission (SEC) on 28 October 2024 and became effective on 10 January 2025.
Founded in 2021, Uni-Fuels has rapidly grown into a dynamic company, forming trusted partnerships with shipping companies to optimise fuel procurement across global markets. The company aims to leverage the IPO proceeds to further its growth and operational objectives.
