Ningde, China, October 18, 2024 — Oriental Rise Holding Limited (“Oriental Rise” or the “Company”) (NasdaqCM: ORIS), a leading provider of tea products in mainland China, announced the completion of its initial public offering (the “Offering”) of 1,750,000 ordinary shares at a public offering price of $4 per share. The ordinary shares commenced trading on Nasdaq Capital Market under the ticker symbol “ORIS” on October 17, 2024.
The Company received total gross proceeds of $7 million from the Offering, excluding underwriting discounts and other related expenses. Additionally, the Company has granted the underwriter an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 262,500 ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering was executed on a firm commitment basis.
US Tiger Securities, Inc. acted as the sole book runner for the Offering. The Crone Law Group served as legal counsel to the Company. VCL Law LLP served as legal counsel to the underwriter.
A registration statement on Form F-1, as amended (File No. 333-274976) relating to the Offering was previously submitted to the Securities and Exchange Commission (“SEC”) by the Company, and subsequently declared effective by the SEC on September 30, 2024. The Offering is being made solely through a prospectus, which forms part of the registration statement. A final prospectus related to the Offering was filed with the SEC on October 17, 2024 and is available on the SEC’s website at . Electronic copies of the final prospectus related to the Offering may be obtained, when available, from US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Oriental Rise Holding Limited
Oriental Rise Holding Limited is a comprehensive provider of tea products in mainland China. Our key tea products encompass (i) primarily-processed tea, comprising white tea and black tea, and (ii) refined white tea and black tea. Our business operations are vertically integrated, encompassing cultivation, processing of tea leaves, and the sale of tea products to tea business operators (such as wholesale distributors) and end-user retail customers in mainland China. We manage tea gardens located in Zherong County, Ningde City in Fujian Province of mainland China. For further information, please visit the Company’s website at .
Forward-Looking Statements
All statements, other than statements of historical fact in this announcement, are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.
For more information, please contact:
Investor Relations:
Sherry Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: