Boustead Wavefront cancels $8 million IPO plan
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©Reuters. VIETNAM – Boustead Wavefront, a Singapore-based company, has officially withdrawn its initial public offering (IPO) from the U.S. Securities and Exchange Commission (SEC). The company initially filed for an IPO in May 2022, aiming to raise about $8 million by issuing about 1.3 million shares at $6 a share.
It plans to list on Nasdaq under the ticker BOUW and will be managed by Revere Securities as the sole gaming company. However, this process did not progress as expected, and no updated prospectus was issued after January 2023. The move marks a major change for the company, which was founded in 2017 and merged with Boustead & Co. The company was established in 2021.
Exiting the IPO process represents a change in strategy for Boustead Wavefront, although the reason for the cancellation has not been disclosed.
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