Treasure Global (NASDAQ: TGL), an innovative e-commerce platform providing seamless payment solutions and rewards programs, has closed on its previously announced upsized initial public offering. The offering comprised 2,300,000 shares of common stock and included the full exercise of the underwriter’s overallotment option; the shares were offered at $4 per share, resulting in gross proceeds of some $9.2 million before deducting underwriting discounts, commissions and other offering expenses. The announcement noted that TGL common stock began trading on the Nasdaq Capital Market on Aug. 11, 2022. According to the announcement, Treasure Global plans to use the net proceeds from the offering to increase its capitalization and financial flexibility, as well as for working capital and general corporate purposes.
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About Treasure Global Inc.
TGI is an innovative Malaysian e-commerce platform providing seamless payment solutions for consumers and merchants with instant rebates and affiliate cashback programs. On a mission to bring together the worlds of online e-commerce and offline physical retailers, TGI is developing a portfolio of leading digital platforms for use throughout Southeast Asia (“SEA”) and Japan. In June 2020, TGI launched its proprietary product, the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards. In the ZCITY ecosystem, users can utilize Tazte, a revenue-generating digital F&B management system providing merchants with a one-stop touchless management and automated solution to digitalize their businesses. As of July 2022, ZCITY had more than 2,000,000 registered users and more than 2,100 registered merchants. For more information about the company, visit www.TreasureGlobal.co.
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