By Mary de Wet
Webuy Global said Friday that it expects its initial public offering to price between $4 and $4.50 a share.
When the e-commerce retailer focused on grocery and travel filed the offering with the Securitities and Exchange Commission in May, it had priced the shares at $4.
Webuy, based in the Cayman Islands with its business in Southeast Asia, is offering 3.2 million ordinary shares, of which 825,000 are from shareholder Zegen Capital.
The company intends to use the proceeds for a number of purposes, including investing in infrastructure related to information technology and expanding its business in Malaysia, Thailand and Vietnam.
Webuy has applied to list its shares on the Nasdaq Capital Market under the symbol WBUY.
Write to Mary de Wet at [email protected]
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