New Century Logistics (BVI) Ltd’s Lock-Up Period To Expire Tomorrow (NASDAQ:NCEW)

New Century Logistics (BVI)’s (NASDAQ:NCEW) lock-up period is set to expire on Monday, June 16th. New Century Logistics (BVI) had issued 1,500,000 shares in its IPO on December 18th. The total size of the offering was $6,000,000 based on an initial share price of $4.00. After the end of New Century Logistics (BVI)’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded New Century Logistics (BVI) to a “hold” rating in a research note on Saturday.

New Century Logistics (BVI) Stock Performance

Shares of NASDAQ NCEW opened at $1.04 on Friday. The company’s 50 day moving average price is $1.54. New Century Logistics has a 52-week low of $0.88 and a 52-week high of $4.15.

New Century Logistics (BVI) Company Profile

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).