YY Group Holding Closes $5M IPO

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YY Group Holding Closes $5M IPO
Credit: © Reuters.

YY Group Holding Limited (Nasdaq: YYGH) (“YYGH”, or the “Company”), a trusted and experienced manpower supplier in the traditional recruitment industry, today announced the closing of its previously announced initial public offering of 1,125,000 Class A Ordinary Shares at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $4.5 million before deducting underwriting discounts, commissions, and other offering expenses.

The Company’s common stock began trading on the Nasdaq Capital Market on April 22, 2024, under the symbol “YYGH”.

The net proceeds from the initial public offering are expected to be used for geographical business expansion, marketing and promotion campaigns, product research and development on YY Apps, team expansion by recruiting more IT and marketing teams, and working capital and general corporate purposes.

US Tiger Securities, Inc., acted as sole book-running manager for the offering.

A registration statement on Form F-1 (File No. 333-275486), was filed with the Securities and Exchange Commission ("SEC") and was declared effective on March 29, 2024, A final prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at https://www.sec.gov. Electronic copies of the final prospectus related to the Offering may be obtained from US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of 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.

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