03:51 AM EST, 01/03/2025 (MT Newswires) -- OneConstruction Group ( ONEG ) said late Thursday it closed its initial public offering of about 1.8 million ordinary shares at $4 per share for gross proceeds of $7 million.

The company granted the underwriters a 45-day option to buy up to 262,500 additional shares.

The shares started trading on the Nasdaq Capital Market on Tuesday under the ticker symbol "ONEG."

The company said it plans to use the net proceeds to fund up-front costs for future projects, expand management and technical teams, and bolster working capital.