TMD Energy Ltd

TMD Energy Ltd (TMDE) priced its initial public offering on Apr 21, 2025 at $3.25 per share, within its $3.25–$3.75 range, raising $10.1M, and listed on NYSE American. At the IPO price its market capitalization was about $75.1M. Maxim Group was lead-left underwriter. Loeb & Loeb and Ogier advised the company and Pryor Cashman advised the underwriters.

TMD Energy Ltd is a Malaysian oil and gas support services group, majority-linked to Straits, providing marine bunkering services, vessel management services and vessel chartering services in a competitive Malaysian bunkering market.

Status

IPO

Ticker

TMDE

Exchange

NYSE American

Priced

Apr 21, 2025

IPO price

$3.25

Price range

$3.25–$3.75

Raised

$10.1M

Market cap at IPO price

$75.1M

First filed

Dec 10, 2024

Underwriters

Maxim Group

Company counsel

Loeb & Loeb and Ogier

Underwriters' counsel

Pryor Cashman

Sector

Consumer

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