Global Engine Group Holding Limited Completes $8 Million IPO
Global Engine Group Holding Limited (“GLE”), a Hong Kong-based provider of integrated solutions in information communication technologies (“ICT”), has completed its initial public offering (IPO). The company offered 2,000,000 ordinary shares at an IPO price of $4.00 per share, raising gross proceeds of $8,000,000 before deducting underwriting discounts and expenses. The IPO closed on September 23, 2024, and the ordinary shares began trading on Nasdaq Capital Market on September 20, 2024, under the ticker symbol “GLE”. GLE has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the IPO price, less underwriting discounts, to cover any over-allotments.
The offering was conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. (“Underwriter”) acted as the sole underwriter for the offering. Robinson & Cole LLP served as U.S. counsel to GLE, and Winston & Strawn LLP acted as U.S. counsel to the Underwriter in connection with the offering.
GLE plans to use the proceeds from the IPO for: 1) brand promotion and marketing (25%); 2) recruitment of talented personnel (25%); 3) strategic investments and acquisitions (25%); and 4) general working capital (25%).
A registration statement on Form F-1 (File No. 333-266919) relating to the offering, as amended, has been filed with the U.S. Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on September 16, 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 R. F. Lafferty & Co., Inc by email at or via standard mail to R. F. Lafferty & Co., Inc, 40 Wall Street, 27th Floor, New York, NY 10005. Additionally, a copy of the final prospectus can be obtained via the SEC’s website at .
Before investing, you should review the prospectus and other documents GLE has filed or will file with the SEC for more information about the company and the offering. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Global Engine Group Holding Limited
Global Engine Group Holding Limited is an integrated solutions provider that operates through a wholly-owned subsidiary incorporated in Hong Kong. The company delivers: (i) ICT solution services including cloud platform deployment, IT system design and configuration, maintenance, data center colocation, and cloud services; (ii) technical services including technical development, support, and outsourcing services for data center and cloud computing infrastructure, mobility and fixed network communications, as well as IoT projects; and (iii) project management services that enhance productivity and collaboration management, enabling successful implementations and adoption of solutions for customers, driving business outcomes and innovation. GLE’s target customer groups include: (i) small to medium-sized telecom operators and ICT service providers seeking expansion in Hong Kong and the South East Asian market; (ii) data center and cloud computing services providers; and (iii) Internet-of-things (“IoT”) solutions providers. For more information, please visit: ; .
Forward-Looking Statement
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When GLE uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from GLE’s expectations discussed in the forward-looking statements. These forward-looking 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. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in GLE’s filings with the SEC, which are available for review at . GLE undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Underwriters
R. F. Lafferty & Co., Inc.
40 Wall Street, 27th Floor
New York, NY 10005
(212) 293-9090
Investor Relations
WFS Investor Relations Inc.
Janice Wang, Managing Partner
Email:
Phone: +86 13811768599
+1 628 283 9214