New Century Logistics (BVI) Ltd’s Lock-Up Period Will Expire on June 16th (NASDAQ:NCEW)

New Century Logistics (BVI)’s (NASDAQ:NCEW) lock-up period will expire on Monday, June 16th. New Century Logistics (BVI) had issued 1,500,000 shares in its initial public offering on December 18th. The total size of the offering was $6,000,000 based on an initial share price of $4.00. After the expiration of New Century Logistics (BVI)’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

New Century Logistics (BVI) Stock Up 2.8%

Shares of NCEW opened at $1.11 on Friday. New Century Logistics has a 12-month low of $0.88 and a 12-month high of $4.15. The company’s fifty day moving average is $1.55.

About New Century Logistics (BVI)

New Century Logistics (BVI) Limited (“NC Logistics”) was incorporated in the BVI on April 24, 2019 with limited liability and is a holding company with no material operations. Our operations are conducted in Hong Kong by our wholly-owned subsidiaries, namely (i) New Century Logistics Company Limited (“NCL (HK)”), a company incorporated in Hong Kong with limited liability, (ii) GLF Cargo Services Limited (“GLF”), a company incorporated in Hong Kong with limited liability and a wholly-owned by NCL (HK), and (iii) Win-Tec Transportation Company Limited (“Win-Tec”), a company incorporated in Hong Kong with limited liability and a wholly-owned by NCL (HK).