WF Holding Limited Commences Trading on Public Market

WF Holding Limited Announces Closing of Initial Public Offering

HONG KONG, March 28, 2023 (GLOBE NEWSWIRE) -- WF Holding Limited ("WF Holding" or the "Company"), a leading provider of innovative and sustainable solutions for the textile industry, today announced the closing of its initial public offering ("IPO") of 15,000,000 ordinary shares at a price of HK$12.50 per share.

The IPO, which was priced at the top end of the indicative price range, saw strong demand from institutional and individual investors, resulting in an oversubscription of the offering. The gross proceeds from the IPO are expected to be approximately HK$187.5 million (approximately USD$24.1 million).

"We are thrilled to have successfully completed our IPO and to have the support of such a strong and diverse group of investors," said Mr. Wong, CEO of WF Holding. "The proceeds from the IPO will be used to further drive our growth strategy, expand our product offerings and strengthen our global presence. We believe that our innovative solutions and commitment to sustainability will continue to drive our success and create long-term value for our shareholders."

The IPO was sponsored by Credit Suisse Securities (Asia) Limited and UBS Securities Asia Limited, and the shares are listed on the Main Board of the Hong Kong Stock Exchange under the stock code "8288".

About WF Holding Limited

WF Holding Limited is a leading provider of innovative and sustainable solutions for the textile industry. The Company's products and services focus on improving the efficiency, productivity and sustainability of textile manufacturing processes. With a strong track record of innovation and growth, WF Holding is well-positioned to continue to drive its success and create long-term value for its shareholders.