05:53 PM EDT, 09/26/2024 (MT Newswires) -- Premium Catering ( PC ) said Thursday it closed its initial public offering of 2 million shares at $4.75 a share, raising $9.5 million.

The company said it sold 1.65 million shares in the IPO. It plans to use the proceeds to upgrade its IT system and automate its production services, among others.