Premium Catering (Holdings), which provides food catering services to foreign workers and others in Singapore, raised $9.5 million by offering 2.0 million shares (18% secondary) at $4.75, the low end of the upwardly-revised range of $4.75 to $5.50. The company had originally filed in June to raise $9 million by offering shares at $4.00 to $5.00, before increasing the range in mid-August
Premium Catering began trading on the Nasdaq on Wednesday under the symbol PC, and closed at $3.72.
Premium Catering is a certified Halal food caterer in Singapore specializing in Indian, Bangladesh, and Chinese cuisine. Originally founded to supply budget prepared meals to foreign construction workers, the company has since expanded and diversified its business to supply budget prepared meals to a wider spectrum of customers, operate food stalls dormitories, and provide buffet catering services for private functions as well as corporate and community events. It also provides ancillary delivery services.
Bancroft Capital acted as sole underwriter on the deal.
