NEW
YORK, Jan. 2, 2025 /PRNewswire/ --
OneConstruction Group Limited ("OneConstruction Group" or the
"Company"), a structural steelwork contractor in
Hong Kong, today announced the
closing of its initial public offering of 1,750,000 ordinary shares
at a public offering price of US$4.00 per share (the "Offering").
The Company has granted the underwriters a 45-day option to
purchase up to 262,500 additional ordinary shares, representing 15%
of the aggregate number of ordinary shares sold in the
Offering at the initial public offering price, less
underwriting discounts. The Company's ordinary shares began trading
on the Nasdaq Capital Market on December 31,
2024, under the ticker symbol "ONEG", subject to
customary closing conditions.
The aggregate gross proceeds from the Offering were $7 million, before deducting underwriting
discounts and other related expenses. The Company intends to use
the net proceeds from the Offering to fund up-front costs for
future projects, expand management and technical teams, and bolster
working capital.
The Offering was conducted on a firm commitment basis. American
Trust Investment Services and WestPark Capital acted as
Underwriters. WestPark Capital was the book-running manager for the
Offering. Hunter Taubman Fischer & Li LLC acted as U.S.
securities counsel to the Company, and Ortoli Rosenstadt LLP acted
as U.S. securities counsel to the underwriters in connection with
the Offering.
A registration statement on Form F-1 (File No. 333-28316)
relating to the Offering, as amended, has been filed with the U.S.
Securities and Exchange Commission (the "SEC") and was
declared effective by the SEC on December
20, 2024. The Offering is being made only by means of a
prospectus, forming a part of the registration statement. Copies of
the final prospectus related to the Offering may be obtained, when
available, from WestPark Capital, Inc. or American Trust Investment
Services, Inc., by email at syndicate@wpcapital.com or
ECM@amtruinvest.com, respectively, by standard mail to WestPark
Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA, 90067 or American Trust
Investment Services, Inc., 230 W. Monroe Street, Suite
300, Chicago, IL 60606, respectively, or by telephone at
(310) 843-9300 or 312-382-7000,
respectively. In addition, a copy of the final prospectus, when
available, can also be obtained via the SEC's website at
www.sec.gov.
Before you invest, you should read the prospectus and other
documents the Company has filed or will file with the SEC for more
information about the Company and the Offering. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About OneConstruction Group
OneConstruction Group is a structural steelwork
contractor in Hong Kong. The
Company, through its subsidiaries, specializes in the procurement
and installation of structural steel for a diverse range of
construction projects in Hong Kong (including residential and
commercial development as well as infrastructure projects), serving
both public and private sector clients. For more information,
please visit the Company's website: www.OneConstruction.com.hk
Forward-Looking Statements
All forward-looking statements, expressed or implied, in this
release are based only on information currently available to us and
speak only as of the date on which they are made. Investors can
find many (but not all) of these statements by the use of words
such as "approximates," "believes," "hopes," "expects,"
"anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or other similar expressions in
this prospectus. Except as otherwise required by applicable law, we
disclaim any duty to publicly update any forward-looking statement,
each of which is expressly qualified by the statements in this
section, to reflect events or circumstances after the date of this
release. These statements are subject to uncertainties and
risks, including, but not limited to, the uncertainties related to
market conditions, and other factors discussed in the "Risk
Factors" section of the registration statement filed with the
SEC. Although the Company believes that the expectations
expressed in these forward-looking statements are reasonable, it
cannot assure you that such expectations will turn out to be
correct, and the Company cautions investors that actual results may
differ materially from the anticipated results and encourages
investors to review other factors that may affect its future
results in the Company's registration statement and other filings
with the SEC. Additional factors are discussed in the Company's
filings with the SEC, which are available for review at
www.sec.gov.
Contacts
Media Relations
Ms.
Callis Lau / Mr. Gary Li / Ms. Lorraine
Luk/ Mr. Himo
Liu
oneg@iprogilvy.com
Investor Relations
Mr.
Gordon
Li
gli@oneconstruction.com.hk
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SOURCE OneConstruction Group Limited
