ARB IOT (ARBB) IPO opens 10% lower

Today's IPO for ARB IOT Group Limited (NASDAQ: ARBB) opened for trading at $3.60 after pricing 1,250,000 ordinary shares at $4.

Maxim Group LLC is acting as the sole book-running manager in connection with the offering.

ARB IOT Group Limited is a provider of complete solutions to clients for the integration of Internet of Things (“IoT”) systems and devices from designing to project deployment. Our mission is to become a leading player in the IoT landscape in the ASEAN region. We offer a wide range of IoT systems as well as provide customers a substantial range of services such as system integration and system support service. We deliver holistic solutions with full turnkey deployment from designing, installation, testing, pre-commissioning, and commissioning of various IoT systems and devices as well as integration of automated systems, including installation of wire and wireless and mechatronic works.

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