Uni-Fuels Holdings, a Singapore-based provider of marine fuels, raised $8 million by offering 2.1 million shares at $4, as expected.
Uni-Fuels markets, resells, and brokers marine fuels products to shipping companies and marine fuels suppliers worldwide in-port and offshore. The company operates an integrated business model where it serves customers through two segments: sales of marine fuels solutions, where it controls and manages the customer relationship throughout the entire transaction and provides value-added solutions such as trade credit and financing; and brokerage, where it refers the customer to a third-party supplier in exchange for a brokerage fee.
Uni-Fuels Holdings plans to list on the Nasdaq under the symbol UFG. R.F. Lafferty & Co. acted as sole bookrunner on the deal.
