11:44 AM EDT, 07/10/2025 (MT Newswires) -- Delixy ( DLXY ) said Thursday it has closed its initial public offering of 2 million ordinary shares at $4 per share.

The offering raised total gross proceeds of $8 million, consisting of nearly 1.4 million shares from the company and 650,000 shares from selling shareholders, Mega Origin and Novel Majestic.

The Singapore-based oil trader received a total of $5.4 million in gross proceeds, which it plans to use to support product offerings, general working capital and corporate purposes, among others.

The company also registered a prospectus for the resale of 3 million shares held by Cosmic Magnet, Rosywood Holdings, Dragon Circle, Novel Majestic Limited and Golden Legend Ventures.

Delixy's ( DLXY ) ordinary shares commenced trading on the Nasdaq Capital Market on Wednesday, under the ticker symbol "DLXY."

Shares of Delixy ( DLXY ) were down more than 9% in recent Thursday trading.

Price: 4.56, Change: -0.39, Percent Change: -7.88