Uni-Fuels Holdings Completes $8.4 Million IPO

Uni-Fuels Holdings Limited, a Singapore-based marine fuel solutions provider, successfully closed its initial public offering (IPO) on January 15, 2025, raising $8.4 million in gross proceeds by selling 2.1 million Class A Ordinary Shares at $4.00 each. This marks the first IPO by a bunker company in New York in nearly two years, with net proceeds totaling approximately $7.81 million after underwriting discounts. The company plans to use the funds to expand its market presence, strengthen its workforce, and for general corporate purposes. The shares began trading on the Nasdaq Capital Market under the ticker symbol 'UFG' on January 14, 2025. R. F. Lafferty & Co., Inc. served as the sole book-running manager for the offering. An option for underwriters to purchase an additional 315,000 shares within 45 days was also granted.