KUALA LUMPUR, Malaysia, March 29 (Bernama-GLOBE NEWSWIRE) — CBL International Limited (NASDAQ: BANL), together with its wholly owned subsidiaries (“CBL International” or the “Company”), is an established marine fuel logistic company currently focusing on the Asia Pacific region, providing one-stop solutions for vessel refueling. CBL International today announced the closing on March 27, 2023 of its initial public offering (“Offering”) of 3,325,000 ordinary shares (the “Shares”) at a public offering price of $4.0 per Share.
The underwriters exercised their over-allotment option in part for an additional 425,000 Shares on March 23, 2023 (“Over-allotment Option”). The Over-allotment Option was closed with the Offering. As a result, the aggregate gross proceeds of the Offering, including the over-allotment, is $15 million, before deducting underwriting discounts and other related expenses. The Shares began trading on the Nasdaq Capital Market on March 23, 2023 under the ticker symbol “BANL.”