ARB IOT Group Ltd

ARB IOT Group Ltd (ARBB) priced its initial public offering on Apr 6, 2023 at $4.00 per share, raising $5M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $105M. Maxim Group was lead-left underwriter. Bevilacqua and Conyers Dill & Pearman advised the company and Loeb & Loeb advised the underwriters.

ARB IOT Group Ltd provides complete solutions for integrating Internet of Things systems and devices, from design to project deployment. It offers IoT systems, system integration and support, and aims to become a leading player in the ASEAN region.

Status

IPO

Ticker

ARBB

Exchange

Nasdaq Capital Market

Priced

Apr 6, 2023

IPO price

$4.00

Raised

$5M

Market cap at IPO price

$105M

First filed

Sep 30, 2022

Underwriters

Maxim Group

Company counsel

Bevilacqua and Conyers Dill & Pearman

Underwriters' counsel

Loeb & Loeb

Sector

Technology

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.