Singapore: Uni-Fuels Holdings Limited (NASDAQ: UFG), a global provider of marine fuel solutions, has released its financial results for the year ending December 31, 2024.

According to BERNAMA News Agency, the company recently completed its initial public offering on January 15, 2025, selling 2,100,000 Class A Ordinary Shares at $4.00 per share. This offering resulted in total gross proceeds of $8.4 million, before accounting for underwriting discounts and commissions. The shares began trading on the Nasdaq Capital Market on January 14, 2025, under the ticker symbol ‘UFG’.

Further developments saw the underwriter exercising its over-allotment option in full on February 4, 2025, to purchase an additional 315,000 Class A Ordinary Shares at the same price. This action increased the total number of shares sold by the company to 2,415,000 and raised the gross proceeds to $9.66 million, prior to deducting underwriting discounts and commissions.