Delixy Holdings Ltd. (DLXY) to Raise $9 Million in IPO

Delixy Holdings Ltd. (DLXY) expects to raise $9 million in an IPO on the week of May 19th, IPO Scoop reports. The company plans to issue 2,000,000 shares at a price of $4.00-$5.00 per share.

In the last 12 months, Delixy Holdings Ltd. generated $316.7 million in revenue and $1.3 million in net income. The company has a market cap of $74 million.

Bancroft Capital acted as the underwriter for the IPO.

Delixy Holdings Ltd. provided the following description of their company for its IPO: “We trade crude oil and oil-based products, including fuel oils, gasoline, additives, gas condensate, in Southeast Asia and East Asia. (Incorporated in the Cayman Islands) We are principally engaged in the trading of oil related products, which can be broadly categorized into (i) crude oil and (ii) oil-based products such as fuel oils, motor gasoline, additives, gas condensate, base oil, asphalt, petrochemicals and naphtha (heavy gasoline), in Southeast Asia and East Asia.. We have the financial capability to provide our customers with financing alternatives and credit terms We are able to provide our customers with credit terms of up to 90 days by leveraging our strong balance sheet position as well as short term credit facilities available to the Group. Our ability to extend these advantageous credit terms to our customers allows us to cater to the diverse needs of our customers across multiple countries and to provide them with the financial flexibility they may require for their business operations. As of the date of this prospectus, the amount outstanding with respect to these credit facilities is zero. We have an experienced management team with strong relationships across our value chain Our management team headed by our Executive Chairman, Chief Executive Officer and Executive Director Mr. Xie, has decades of trading experience and experience in oil trading as well as in the oil industry generally, including oil refining and logistics. We also maintain strong relationships with our suppliers, storage facilities providers and fleet and logistics providers, and are able to effectively service our clients and ensure a reliable supply of crude oil and oil-based products. We have robust and strong risk management and internal controls capabilities We believe that the ability to manage risk is one of our key strengths. Risk management is a core function under the supervision of our senior leadership structure. Our sound risk management practices have contributed to our positive performance through the volatile market environment in recent years and have helped to mitigate earnings volatility. We are strategically located in Singapore, Asia’s refined products trading hub. (Note: Delixy Holding Corp. is offering 2.0 million shares at a price range of $4.00 to $5.00 to raise $9.0 million, according to its F-1/A filings. Of the 2.0 million shares in the IPO. Delixy Holdings Ltd. is offering 1.35 million ordinary shares and the selling shareholders are offering 650,000 ordinary shares.)   “.

Delixy Holdings Ltd. was founded in 2007 and has 11 employees. The company is located at 883 North Bridge Road #04-01 Southbank Singapore 198785 +65 6291 3184 and can be reached via phone at +65 6291 3184.