INNO HOLDINGS, which manufactures cold-formed steel framing for the construction industry, raised $10 million by offering 2.5 million shares at $4, the low end of the range of $4 to $5.
In an unusual move for US markets, the company's shares are expected to begin trading on Tuesday, December 12, 2023, one week after pricing.
INNO HOLDINGS is a manufacturer of cold-formed-steel members and offers a full range of services required to transform raw materials into precise steel framing products and prefabricated homes. The company serves commercial, residential, and industrial customers, and its finished products and cold-formed steel members are used in a variety of building types. INNO uses a B2B sales model for its cold-formed steel-framing business, and its main customers are developers, builders, and contractors. For prefabricated home products, INNO expects to use either a B2B or B2C sales model.
INNO HOLDINGS plans to list on the Nasdaq under the symbol INHD. AC Sunshine Securities acted as sole bookrunner on the deal.
