Uni-Fuels Holdings: A New Player in the Marine Fuels Market

Uni-Fuels Holdings Limited, a Singapore-based marine fuel solutions provider, has announced the closing of its Initial Public Offering (IPO) on January 15, 2025. The company successfully offered 2,100,000 Class A Ordinary Shares at a public offering price of $4.00 per share, raising gross proceeds of $8.4 million. Trading commenced on the Nasdaq Capital Market under the ticker symbol 'UFG' on January 14, 2025.

Uni-Fuels' IPO marks a strategic entry into the public markets, although the relatively small size of $8.4 million and pricing at $4.00 per share position it as a micro-cap offering. R. F. Lafferty & Co. served as the sole book-running manager for the firm commitment offering, providing some validation, but the company's headquarters in Singapore may limit institutional interest at this stage.

The marine fuel solutions sector presents interesting opportunities given increasing regulations around maritime emissions and the transition to cleaner fuels. However, the small deal size may limit institutional participation and could result in trading liquidity concerns. The 45-day overallotment option for 315,000 additional shares (15% of the base offering) provides some flexibility for price stabilization.

Uni-Fuels' planned use of proceeds focuses on market expansion and working capital, which appears prudent given the working capital-intensive nature of the fuel trading business. The company aims to scale up its reselling activities to gain market share from existing and new markets, strengthen its workforce, and expand its market presence in new geographical locations. However, the small raise may constrain the company's ability to compete with larger, well-capitalized players in the marine fuels space.

The marine fuels market is highly competitive and capital-intensive, with thin margins that require significant scale to achieve profitability. Uni-Fuels' entry as a public company could help it build credibility with suppliers and customers, but the modest IPO proceeds may not provide sufficient firepower to significantly disrupt established players. The timing is interesting given the ongoing transition in marine fuels driven by IMO 2020 sulfur regulations and increasing focus on alternative fuels. However, the company will need to demonstrate strong risk management capabilities and working capital efficiency to succeed in this volatile market.



SINGAPORE, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Uni-Fuels Holdings Limited (NASDAQ: UFG) (“Uni-Fuels” or the “Company”), a global provider of marine fuel solutions for shipping companies headquartered in Singapore, announced today the closing of its underwritten initial public offering (the “Offering”) of 2,100,000 Class A Ordinary Shares at a public offering price of $4.00 per share, for total gross proceeds of $8.4 million to the Company before underwriting discounts and commissions. All of the Class A Ordinary Shares are offered by Uni-Fuels. The Offering closed on January 15, 2025, and the Class A Ordinary Shares commenced trading on the Nasdaq Capital Market on January 14, 2025, under the ticker symbol “UFG.”

The Company has granted the Underwriters an option to purchase up to 315,000 additional Class A Ordinary Shares within 45 days of the effective date of the Company’s registration statement in relation to the Offering. Uni-Fuels intends to use the proceeds from the Offering for scaling up its reselling activities to gain market share from existing and new markets; for strengthening its workforce and expanding its market presence in new geographical locations; and as cash reserve and general corporate purposes.

The Offering was conducted on a firm commitment basis. R. F. Lafferty & Co., Inc. acted as the sole book-running manager for the Offering. A registration statement on Form F-1 relating to the shares being sold in the Offering was initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 28, 2024; and was declared effective by the SEC on January 10, 2025. This Offering was made only by means of a prospectus. A copy of the final prospectus relating to the Offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov, or alternatively, from: R. F. Lafferty & Co., Inc., 40 Wall Street, 27th Floor, New York, NY 10005; (212) 293-9090.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Uni-Fuels Holdings Limited
Uni-Fuels is a fast-growing global provider of marine fuel solutions, helping shipping companies optimize fuel procurement across all markets and time zones. Founded in 2021, Uni-Fuels has evolved from modest beginnings into a dynamic, forward-thinking company. Backed by a passionate team and a growing presence across multiple locations, it has forged trusted partnerships with customers, supporting them in achieving their operational objectives with confidence, from shore to shore.

For more information, visit www.uni-fuels.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the intended use of the proceeds. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Uni-Fuels’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Contact Information
For Investor Relations:
Uni-Fuels Holdings Ltd
Email: investors@uni-fuels.com
Skyline Corporate Communications Group, LLC
Email: info@skylineccg.com