Delixy Holdings Ltd. (DLXY)of Singapore priced its small IPO at $4.00 – the low end of its $4.00-to-$5.00 price range – and sold 2.0 million shares – the number in the prospectus – to raise $8.0 million on Tuesday night, July 8, 2025. Delixy trades crude oil and oil-based products, including fuel oils, gasoline, additives and gas condensate in Southeast Asia and East Asia.(Editor’s Note: This column, first published online Tuesday night, July 8, 2025, was initially updated late Wednesday morning, July 9, 2025, with news on Delixy’s NASDAQ trading debut – and updated again after the closing bell.)
Delixy Holdings’ stock opened flat at $4.00 at 11:10 a.m. EDT today – Wednesday, July 9, 2025 – in its NASDAQ debut on volume of 165,003 shares. Shares of Delixy hit a session high at $7.16 at 12:51 p.m. EDT and gave up some gains to trade above $4.00 (its session low) this afternoon. Delixy’s stock closed at $4.95 – up 95 cents or up 23.75 percent in its first day of NASDAQ trading on volume of 4.42 million shares.
Bancroft Capital acted as the sole book-runner. Bancroft Capital is majority owned by disabled U.S. military veterans.
Of the 2.0 million shares in the IPO, Delixy Holdings Ltd. offered 1.35 million ordinary shares and the selling shareholders offered 650,000 ordinary shares. Delixy’s proceeds from the IPO were estimated at about $5.4 million – before deducting expenses – while its net IPO proceeds were pegged at about $3.125 million, according to the prospectus. The company will not receive any proceeds from the sale of the selling stockholders’ shares.
Delixy Holdings Ltd. said it intends to use the net proceeds from the IPO to “(i) expand our product offerings; (ii) strengthen our market position; (iii) potentially make strategic acquisitions and business cooperation (deals), including joint ventures and/or strategic alliances and (iv) for general working capital and corporate purposes,” according to the prospectus.
Delixy Holdings Ltd. is profitable: The company reported net income of $1.03 million on revenue of $314.92 million in U.S. dollars for the 12 months that ended Dec. 31, 2024, according to financial statements in the prospectus.
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