Today's IPO for Multi Ways Holdings Limited (MWG) opened for trading at $3.05 after pricing 7,240,000 ordinary shares at a public offering price of $2.50 per share. Multi Ways is offering 6,040,000 ordinary shares, and a certain selling shareholder is offering 1,200,000 ordinary shares.
Shares have since jumped to $3.36 and were halted on volatility.
Spartan Capital Securities, LLC is acting as the sole book-running manager for the offering.
Multi Ways Holdings is a supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region. With more than two decades of experience in the sales and rental of heavy construction equipment business, the Company is widely established as a reliable supplier of new and used heavy construction equipment to customers from Singapore, Australia, UAE, Maldives, Indonesia, and the Philippines.