Shares are Expected to Commence Trading on April 22, 2022 on the Nasdaq Capital Market as
"JCSE"
SINGAPORE, April 22,
2022 /PRNewswire/ -- JE Cleantech Holdings
Limited (Nasdaq: JCSE) (the "Company"), a Cayman Islands exempted company that is based
in Singapore, today announced the
pricing of its firm commitment initial public offering of 3,000,000
ordinary shares at a public offering price of $4.00 per share, for total gross proceeds of
$12 million before deducting
underwriting discounts, commissions and other related expenses.
Additionally, in connection with the initial public offering, a
selling shareholder is selling 750,000 ordinary shares at
$4.00 per share, for total gross
proceeds of $3.0 million before
deducting underwriting discounts, commissions and other related
expenses. The Company's ordinary shares are scheduled to begin
trading on the Nasdaq Capital Market tomorrow, April 22, 2022, under the ticker symbol "JCSE."
The offering is expected to close on or about April 26, 2022, subject to customary closing
conditions.
In addition, the Company has granted the underwriters a 45-day
option to purchase up to an additional 562,500 ordinary shares at
the public offering price, less underwriting discount and
commissions. ViewTrade Securities Inc., a global provider of
brokerage, investment banking, corporate, advisory and trading
platform services, is acting as the Lead Managing Underwriter and
Sole Book-Running Manager for the offering.
A registration statement on Form F-1 (File No. 333-263457)
relating to the securities being sold in this offering was declared
effective by the Securities and Exchange Commission on March 31, 2022. The offering of these securities
was made only by means of a prospectus, forming a part of the
registration statement. A copy of the final prospectus related to
the offering may be obtained, when available, from ViewTrade
Securities, 7280 W Palmetto Park Rd, Suite 310, Boca Raton, Florida 33433, Attn: Prospectus
Department, via email: IB@Viewtrade.com. In addition, a copy of the
final prospectus relating to the offering may be obtained via the
SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Company's securities,
nor shall such securities be offered or sold in the United States absent registration or an
applicable exemption from registration, nor shall there be any
offer, solicitation or sale of any of the Company's 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 such state or jurisdiction.
About JE Cleantech Holdings Limited
JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i)
the sale of cleaning systems and other equipment; and (ii) the
provision of centralized dishwashing and ancillary services.
Through its subsidiary, JCS-Echigo Pte Ltd, the company designs,
develops, manufactures and sells cleaning systems for various
industrial end-use applications primarily to customers in
Singapore and Malaysia. Its cleaning systems are mainly
designed for precision cleaning, with features such as particle
filtration, ultrasonic or megasonic rinses with a wide range of
frequencies, high pressure drying technology, high flow rate spray
and deionized water rinses, which are designed for effective
removal of contaminants and to minimize particle generation and
entrapment. The Company also has provided centralized dishwashing
services, through its subsidiary, Hygieia Warewashing Pte Ltd,
since 2013 and general cleaning services since 2015, both mainly
for food and beverage establishments in Singapore.
About ViewTrade Securities, Inc.
ViewTrade Securities Incorporated, a US-registered broker dealer
providing brokerage, trading, investment banking and advisory
services for US retail investors and B2B to major financial
institutions worldwide, including some of the largest institutions
in their domestic markets. ViewTrade Securities' Investment Banking
Division offers capital raising and advisory services to
growth-oriented companies both domestically and in emerging
markets. For further information, please visit:
http://www.ViewTrade.com.
Forward-Looking Statements
This press release contains forward-looking statements,
including with respect to the expected closing of the Company's
proposed initial public offering. These forward-looking statements
are subject to a number of risks, uncertainties and
assumptions that could cause actual results to differ from the
forward-looking statements, including those related to market and
other conditions and that the conditions to the closing of the
initial public offering may not be satisfied. The Company
undertakes no obligation to update any such forward-looking
statements after the date hereof to conform to actual results or
changes in expectations, except as required by law.
For Media Enquiries and Investor Relations, please
contact:
PRecious Communications
jcse@preciouscomms.com
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SOURCE JE Cleantech Holdings Limited