02:38 PM EDT, 10/09/2024 (MT Newswires) -- SKK Holdings ( SKK ) said Wednesday it has closed its initial public offering of 2.5 million shares at $4 apiece.

The offering included 750,000 shares from its selling shareholders, the civil engineering service company said.

SKK Holdings ( SKK ) received about $5.3 million in net proceeds, which it plans to use to expand its range of equipment and vehicles and for general working capital, among other purposes, it said.

SKK shares were down nearly 34% in recent trading. The stock started trading on the Nasdaq on Oct. 8.

Price: 4.00, Change: -2.05, Percent Change: -33.88