Investing.com -- Singapore-based oil products trader Delixy Holdings Limited started trading on the Nasdaq Capital Market Friday at $4 per share, matching its initial public offering price.

The company priced its IPO of 2 million ordinary shares at $4 per share on Thursday. Of these shares, Delixy offered 1.35 million while selling shareholders Mega Origin Holdings Limited and Novel Majestic Limited each sold 325,000 shares.

Delixy expects to raise $5.4 million in gross proceeds from the offering before deducting underwriting discounts and related expenses. The company will not receive any proceeds from shares sold by the selling shareholders.

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

Delixy’s shares are trading on the Nasdaq Capital Market under the ticker symbol "NASDAQ:DLXY" with Bancroft Capital, LLC serving as the sole lead underwriter for the offering.

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