YY Group Holding Limited, a Singapore-based staffing firm today announced the pricing of its initial public offering of 1,125,000 Class A Ordinary Shares at a public offering price of USD 4.00 per share, for aggregate gross proceeds of approximately USD 4.5 million before deducting underwriting discounts, commissions, and other offering expenses.

The shares began trading on the Nasdaq Capital Market on 22 April 2024, under the ticker symbol “YYGH” and the offering is expected to close on or about 24 April 2024, subject to satisfaction of customary closing conditions.

The net proceeds from the initial public offering are expected to be used for geographical business expansion, marketing and promotion campaigns, product research and development on YY Apps, team expansion by recruiting more IT and marketing teams, and working capital and general corporate purposes. The group plans to expand rapidly over the next 3-5 years covering mainly Southeast Asia and the rest of the world.

US Tiger Securities, Inc., acted as sole book-running manager for the offering.

Launched in 2010, the group has 13 years of experience in manpower outsourcing and six years of experience in providing cleaning services.