707 Cayman Stock Climbs After IPO Closes

Dow Jones

Jun 11

By Dean Seal

Shares of 707 Cayman Holdings jumped in its first trading day after the company closed its initial public offering.

The stock was up 15% at $4.62 in the morning trading session.

The Hong Kong-based apparel seller said Tuesday afternoon that it has closed the offering of 2.5 million shares at $4 apiece for gross proceeds of $10 million, before underwriting discounts and offering expenses.

70 Cayman sold 1.75 million of those shares, while selling shareholders sold another 750,000.

The company said it received $5.2 million of net proceeds, which will be used for potential brand acquisitions or licensing, branding and marketing, hiring additional staff, revamping its website, digitizing its systems, replaying interest-free loans and for general corporate purposes.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 11, 2025 10:55 ET (14:55 GMT)

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