Straits Energy has informed that its 76.66% owned subsidiary TMDEL has received NYSE approval to list on the stock exchange.
The group announced that the NYSE American had issued a letter dated 18 April 2025, approving the listing and registration of ordinary shares of TMDEL, with par value of USD0.0001, on the NYSE American.
TMDEL had filed its draft Form F-1 Registration Statement in June last year, intending to be listed on a USA stock exchange.
Based on the indicative issue price ranging between USD3.25 – USD3.75 per Issue Share (or equivalent to RM15.19 – RM17.52 per Issue Share) the board of TMDEL and the underwriters, the Proposed IPO is expected to raise gross proceeds ranging between USD5.69 million – USD15.00 million (or equivalent to RM26.57 million – RM70.09 million).
