Dreamland opens at $3.50, IPO priced at $4 per share

Dreamland (TDIC), a Hong Kong-based event management service provider, priced 2M shares at $4.00 per share and expects to receive aggregate gross proceeds of $8M from the offering, before deducting underwriting discounts and other related expenses. Net proceeds from the offering due to the company will be used for acquiring multi-territorial IP licenses; setting up the company’s own ticketing platform; possible strategic acquisitions; expanding the company’s marketing department and financing and administration department; upgrading the company’s enterprise resource planning system; repaying loans made by a director in connection with the payment of costs and expenses in connection with the offering and obtaining a listing of the company’s Class A ordinary shares on the Nasdaq Capital Market; and working capital and other corporate purposes. Bancroft acted as sole book running manager for the offering.