Skyline Builders Group Holding (SKBL) shares surged 10% in pre-market trading on Thursday, as the Hong Kong-based civil engineering services provider priced its initial public offering (IPO) and prepared for its Nasdaq debut.
The company announced the pricing of its IPO of 1.5 million Class A ordinary shares at $4 per share, raising gross proceeds of approximately $6 million. The shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "SKBL" on Thursday, January 23, 2025.
Skyline Builders Group stated that it plans to use the IPO proceeds to enhance its capacities by hiring additional staff, strengthen its market position in the civil engineering industry, acquire machinery to boost its capacity, enhance its brand, and fund working capital and other general corporate purposes.
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