SHENZHEN, China, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Asia Times Holding Limited (the "Company"), a company providing financial consulting services, announced today that its registration statement on Form F-1, relating to the Company's proposed initial public offering ("IPO"), was declared effective on February 8, 2019 by the United States Securities and Exchange Commission (“SEC”).
The offering will be sold on a best efforts basis. Boustead Securities, LLC is acting as the sole underwriter for the offering. Hunter Taubman Fischer & Li LLC is acting as counsel to the Company, and Ortoli Rosenstadt LLP is acting as counsel to the underwriter.
In its proposed IPO, the Company is offering a minimum of 2,000,000 ordinary shares and a maximum of 5,000,000 ordinary shares to the public at a price of $4.00 per ordinary share. The Company expects to raise aggregate gross proceeds of between USD$8,000,000 and USD$20,000,000, before commissions and expenses. Upon closing of the offering, the total number of ordinary shares outstanding will be between 52,000,000 and 55,000,000 shares, as described in the prospectus.
The Company has applied to list its ordinary shares on The NASDAQ Capital Market under ticker symbol "ATIF".
The offering of these securities was made only by means of a prospectus, which is a part of the registration statement filed with the SEC. Copies of the prospectus may be obtained from: Boustead Securities, LLC, email: offerings@boustead1828.com or by calling +1 (949) 502-4409 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 265, Irvine, CA 92618, USA.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Asia Times Holding Limited
Headquartered in Shenzhen, China, Asia Times Holding Limited is a company providing financial consulting services to small and medium-sized enterprises in the Asian region. The Company’s core businesses include going public consulting services, international financial consulting services, and financial media services. The company has helped several enterprises in China go public in the U.S. At present, the company has business centers and service centers in Hong Kong and Shenzhen, and a team of experienced consulting professionals. The company owns CNNM, a news and media website that provides social news and financial information to the Asian region. For more information, please visit http://www.atifchina.com.
About Boustead Securities, LLC
Boustead Securities, LLC ("Boustead") is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead's core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States and around the world, Boustead's team moves quickly and provides a broad spectrum of sophisticated financial advice and services. For more information, please visit www.boustead1828.com.
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's proposed IPO and statement regarding potential listing on the NASDAQ Capital Market. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the IPO will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the Securities and Exchange Commission.
For more information, please contact Investor Relations at:
Tina Xiao
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com