Delixy Holdings, which trades crude oil and oil-based products in Southeast and East Asia, raised $8 million by offering 2 million shares (33% secondary) at $4, the low end of the range of $4 to $5.
Delixy is engaged in the trading of oil related products, namely crude oil and oil-based products, such as fuel oils, motor gasoline, and additives, among others. The company trades its products across multiple countries in Southeast and East Asia. In the six months ended June 30, 2024, its total trading volume was 1,643 kBBLs (+9% y/y).
Delixy Holdings plans to list on the Nasdaq under the symbol DLXY. Bancroft Capital acted as sole bookrunner on the deal.
