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OneConstruction Group Limited Announces Pricing of Initial Public Offering

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OneConstruction Group , a Hong Kong-based structural steelwork contractor, has announced the pricing of its initial public offering (IPO) of 1,750,000 ordinary shares at US$4.00 per share. The company's shares are set to begin trading on the Nasdaq Capital Market under the ticker symbol ONEG on December 31, 2024. Underwriters have a 45-day option to purchase up to 15% additional shares. The IPO is being conducted on a firm commitment basis, with American Trust Investment Services and WestPark Capital serving as underwriters, and WestPark Capital acting as the book-running manager.

OneConstruction Group, un imprenditore di lavori in acciaio strutturale con sede a Hong Kong, ha annunciato il prezzo della sua offerta pubblica iniziale (IPO) di 1.750.000 azioni ordinarie a 4,00 dollari USA per azione. Le azioni dell'azienda inizieranno a essere scambiate sul Nasdaq Capital Market con il simbolo ticker ONEG il 31 dicembre 2024. Gli underwriter hanno la possibilit脿 di acquistare fino al 15% di azioni aggiuntive in un arco di 45 giorni. L'IPO viene effettuata su base di impegno fermo, con American Trust Investment Services e WestPark Capital che fungono da underwriter, e WestPark Capital che agisce come gestore delle prenotazioni.

OneConstruction Group, un contratista de trabajos de acero estructural con sede en Hong Kong, ha anunciado el precio de su oferta p煤blica inicial (IPO) de 1,750,000 acciones ordinarias a 4.00 d贸lares estadounidenses por acci贸n. Las acciones de la empresa comenzar谩n a cotizar en el Nasdaq Capital Market bajo el s铆mbolo de cotizaci贸n ONEG el 31 de diciembre de 2024. Los suscriptores tienen una opci贸n de 45 d铆as para comprar hasta el 15% de acciones adicionales. La IPO se est谩 llevando a cabo en una base de compromiso firme, con American Trust Investment Services y WestPark Capital actuando como suscriptores, y WestPark Capital como el gerente de libros.

OneConstruction Group電 頇嶌僵鞐 氤胳偓毳 霊 甑“ 臧曥矤 瓿奠偓 瓿勳暯鞐呾泊搿, 靸侅灔 瓿惦 (IPO)毳 韱淀暣 1,750,000欤茧ゼ 欤茧嫻 4.00雼煬鞐 臧瓴╈潉 氚滍憸頄堨姷雼堧嫟. 須岇偓鞚 欤检嫕鞚 2024雲 12鞗 31鞚茧秬韯 Nasdaq Capital Market鞐愳劀 ONEG霛茧姅 欤检嫕 旮绊樃搿 瓯半灅毳 鞁滌瀾頃 鞓堨爼鞛呺媹雼. 鞚胳垬鞚鸽摛鞚 45鞚 霃欖晥 於旉皜搿 斓滊寑 15%鞚 欤检嫕鞚 甑Г頃 靾 鞛堧姅 鞓奠厴鞚 臧歆瓿 鞛堨姷雼堧嫟. IPO電 頇曥爼 鞎届爼鞚 旮半皹鞙茧 歆勴枆霅橂┌, American Trust Investment Services鞕 WestPark Capital鞚 鞚胳垬鞚胳溂搿, WestPark Capital鞚 攵侅爜 甏毽瀽搿 頇滊彊頃╇媹雼.

OneConstruction Group, un entrepreneur en travaux d'acier structurel bas茅 脿 Hong Kong, a annonc茅 le prix de son offre publique initiale (IPO) de 1 750 000 actions ordinaires 脿 4,00 $ US par action. Les actions de la soci茅t茅 commenceront 脿 锚tre 茅chang茅es sur le Nasdaq Capital Market sous le symbole boursier ONEG le 31 d茅cembre 2024. Les souscripteurs disposent d'une option de 45 jours pour acheter jusqu'脿 15 % d'actions suppl茅mentaires. L'IPO est r茅alis茅e sur une base d'engagement ferme, avec American Trust Investment Services et WestPark Capital comme souscripteurs, et WestPark Capital agissant en tant que gestionnaire des livres.

OneConstruction Group, ein in Hongkong ans盲ssiger Anbieter von Stahlbauarbeiten, hat den Preis f眉r seine Erstver枚ffentlichung (IPO) von 1.750.000 Stammaktien zu 4,00 US-Dollar pro Aktie bekannt gegeben. Die Aktien des Unternehmens werden am 31. Dezember 2024 unter dem Tickersymbol ONEG am Nasdaq Capital Market gehandelt. Die Underwriter haben eine 45-t盲gige Option, bis zu 15 % weitere Aktien zu erwerben. Die IPO wird auf der Basis einer festen Verpflichtung durchgef眉hrt, wobei American Trust Investment Services und WestPark Capital als Underwriter fungieren und WestPark Capital als Buchf眉hrer auftritt.

Positive
  • Successfully priced IPO at $4.00 per share
  • Secured listing on Nasdaq Capital Market
  • Potential for additional capital through 15% underwriter option
Negative
  • Relatively small IPO size of 1.75 million shares
  • Potential dilution from underwriter's 15% option exercise

Insights

<p>This IPO marks OneConstruction Group's entry into the U.S. public markets with a relatively modest offering of <money>$7 million</money> (1.75M shares at <money>$4.00</money> per share). For a Hong Kong-based structural steelwork contractor, the small offering size and choice of the Nasdaq Capital Market suggests this is primarily aimed at increasing visibility and establishing a U.S. presence rather than raising substantial capital.</p><p>The involvement of smaller investment banks (American Trust Investment Services and WestPark Capital) as underwriters, rather than bulge bracket firms, aligns with the offering's scale. The firm commitment basis provides some confidence in the deal's execution, though the 45-day overallotment option of 15% is standard for such offerings.</p><p>For retail investors, the micro-cap nature and foreign domicile warrant careful consideration. Trading liquidity could be given the small float and Hong Kong-based operations may present additional regulatory and transparency challenges compared to domestic issuers.</p>

<p>The timing of this IPO, launching on the last day of 2024, is strategically interesting. Year-end listings are relatively uncommon due to typically lower market activity, suggesting confidence in immediate investor interest or specific timing considerations for the company's capital needs. The choice of the Nasdaq Capital Market tier, which has lower listing requirements than the Global Market, indicates this is a smaller growth company seeking to establish market presence.</p><p>The SEC registration process, completed with effectiveness granted on December 20, moved relatively quickly, reflecting a straightforward offering structure. The dual underwriter approach with WestPark Capital as book-runner suggests a focused distribution strategy targeting specific investor segments familiar with smaller Asian industrial companies.</p>

NEW YORK, Dec. 31, 2024 /PRNewswire/ --听OneConstruction Group Limited ("OneConstruction Group" or the "Company"), a structural steelwork contractor in Hong Kong, today announced the pricing of its initial public offering of 1,750,000 ordinary shares at a public offering price of US$4.00听per share (the "Offering"). The underwriters will have a 45-day option to purchase up to 15% of the aggregate number of ordinary shares sold in the Offering. The Company's ordinary shares are expected to begin trading on the Nasdaq Capital Market on December 31, 2024, under the ticker symbol "ONEG", subject to customary closing conditions.

The Offering is being conducted on a firm commitment basis. American Trust Investment Services and WestPark Capital acted as Underwriters. WestPark Capital was the book-running manager for the Offering.听Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to the Company, and Ortoli Rosenstadt LLP is acting as U.S. securities counsel to the underwriters in connection with the Offering.

A registration statement on Form F-1 (File No. 333-28316) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on December 20, 2024. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained, when available, from WestPark Capital, Inc. or American Trust Investment Services, Inc., by email at听syndicate@wpcapital.com听辞谤 ECM@amtruinvest.com, respectively, by standard mail to WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA, 90067 or American Trust Investment Services, Inc., 230 W.听Monroe Street, Suite 300,听Chicago, IL听60606, respectively, or by telephone at (310) 843-9300 or 312-382-7000, respectively. In addition, a copy of the final prospectus, when available, can also be obtained via the SEC's website at .

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy 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.

About OneConstruction Group

OneConstruction Group is听a听structural steelwork contractor in Hong Kong. The Company, through its subsidiaries, specializes in the procurement and installation of structural steel for a diverse听range of construction projects in Hong Kong听(including residential and commercial development as well as infrastructure projects), serving both public and private sector clients. For more information, please visit the Company's website:

Forward-Looking Statements

All forward-looking statements, expressed or implied, in this release are based only on information currently available to us and speak only as of the date on which they are made. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this prospectus. Except as otherwise required by applicable law, we disclaim any duty to publicly update any forward-looking statement, each of which is expressly qualified by the statements in this section, to reflect events or circumstances after the date of this release.听These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC.听Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at .

Contacts

Media Relations
Ms. Callis Lau / Mr. Gary Li / Ms. Lorraine Luk
callis.lau@iprogilvy.com听/ gary.li@iprogilvy.com / lorraine.luk@iprogilvy.com

Investor Relations
Mr. Gordon Li
gli@oneconstruction.com.hk

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SOURCE OneConstruction Group Limited

FAQ

What is the IPO price and size for OneConstruction Group (ONEG)?

OneConstruction Group's IPO consists of 1,750,000 ordinary shares priced at US$4.00 per share.

When will ONEG stock begin trading on Nasdaq?

ONEG shares are expected to begin trading on the Nasdaq Capital Market on December 31, 2024.

Who are the underwriters for OneConstruction Group's IPO?

American Trust Investment Services and WestPark Capital are the underwriters, with WestPark Capital serving as the book-running manager.

What is the underwriters' option in ONEG's IPO?

Underwriters have a 45-day option to purchase up to 15% additional shares of the aggregate number of ordinary shares sold in the IPO.

What business does OneConstruction Group (ONEG) operate?

OneConstruction Group is a structural steelwork contractor based in Hong Kong.

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