Galaxy Payroll Group Limited Announces Closing of the Underwriter’s Over-Allotment Option in Connection with its Initial Public Offering

Hong Kong, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Galaxy Payroll Group Limited (the “Company” or “GLXG”), a reputable payroll outsourcing service, employment service and consultancy and market research service provider based in Hong Kong, today announced that it closed the sales of an additional 262,500 ordinary shares of the Company, representing full exercise of the underwriter’s over-allotment option granted in connection with the Company’s initial public offering (“IPO”, together with such over-allotment closing, the “Offering”), at the IPO price of $4 per share, less underwriting discounts. As a result, the Company has raised gross proceeds of $1,050,000 in addition to the previously announced IPO gross proceeds of $7,000,000, before deducting underwriting discounts and offering expenses.