TMD Energy Limited Announces Pricing of Initial Public Offering on NYSE American

Strategic Insights -

TMD Energy Limited, a Malaysia and Singapore-based integrated bunkering services provider, has priced its initial public offering (IPO) of 3,100,000 ordinary shares at a price to the public of US$3.25 per share, raising approximately US$10.08 million in gross proceeds. The shares are expected to begin trading on the NYSE American under the symbol "TMDE" on April 21, 2025, with a closing date of April 22, 2025, subject to customary closing conditions.

Key Takeaways:

  • TMD Energy Limited has priced its initial public offering (IPO) of 3,100,000 ordinary shares at US$3.25 per share, raising approximately US$10.08 million in gross proceeds.
  • The IPO is expected to close on April 22, 2025, with the shares beginning trading on the NYSE American under the symbol "TMDE" on the same day.
  • The Company has granted the underwriter a 45-day option to purchase up to an additional 465,000 shares to cover over-allotments at the initial public offering price.
  • The Company intends to use the net proceeds from the IPO for the purchase of cargo oil, defraying listing expenses, and working capital and other general corporate purposes.
  • TMD Energy Limited is a Malaysia and Singapore-based integrated bunkering services provider, operating in 19 ports across Malaysia with a fleet of 15 bunkering vessels.

Statistics:

  • US$10.08 million: Gross proceeds from the IPO.
  • US$3.25: Price to the public per ordinary share.
  • 3,100,000: Number of ordinary shares issued in the IPO.
  • 19: Number of ports where TMD Energy Limited operates in Malaysia.
  • 15: Total number of bunkering vessels in TMD Energy Limited's fleet.

Sources:

  • GlobeNewswire (MIL-OSI)
  • TMD Energy Limited press release dated April 21, 2025
  • U.S. Securities and Exchange Commission (SEC) - registration statement on Form F-1, as amended (File No. 333-283704)
  • Maxim Group LLC
  • Loeb & Loeb LLP
  • Pryor Cashman LLP