CBL International Ltd

CBL International Ltd (BANL) priced its initial public offering on Mar 23, 2023 at $4.00 per share, raising $13.3M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $98.3M. Spartan Capital was lead-left underwriter. Loeb & Loeb and Ogier advised the company.

CBL International Ltd is a marine fuel logistics company in the Asia Pacific that acts as a bunkering facilitator, offering a one-stop vessel refueling solution. It arranges suppliers to deliver marine fuel to customers and has targeted container liner operators since its 2015 founding.

Status

IPO

Ticker

BANL

Exchange

Nasdaq Capital Market

Priced

Mar 23, 2023

IPO price

$4.00

Raised

$13.3M

Market cap at IPO price

$98.3M

First filed

Aug 26, 2022

Underwriters

Spartan Capital

Company counsel

Loeb & Loeb and Ogier

Sector

Consumer

Country / state

Malaysia

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