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Hong-Kong based Global Engine Group (GLE), a provider of information communication technologies, has set terms for a proposed $16M initial public offering.
Global Engine said that it was looking to offer 3.5M ordinary shares priced between $4 and $5, which would raise around $16M if priced at the midpoint.
The company hopes to list its shares on Nasdaq under the symbol GLE. Univest Securities is serving as lead bookrunner.
Selling shareholders plan to offer an additional 1.9M shares. Global Engine won’t see any proceeds from that sale.
Incorporate in the British Virgin Islands, Global Engine operates through subsidiaries in Hong Kong. The company provides cloud and data center management services along with consulting services for telecommunications operators. Global Engine plans to expand its operations beyond Hong Kong and into Southeast Asia.
Global Engine first filed for the IPO in August.
