Loeb Advises TMD Energy Limited in $10 Million Initial Public Offering

Loeb & Loeb acted as issuer counsel to TMD Energy Limited, a Malaysia- and Singapore-based services provider engaged in integrated bunkering services which involves ship-to-ship transfer of marine fuels, ship management services and vessel chartering services, in its initial public offering of 3,100,000 ordinary shares at a price of $3.25 per share, for a total of approximately $10.08 million gross proceeds before underwriting discounts and offering expenses.

The ordinary shares of TMD Energy Limited began trading on the NYSE American under the ticker symbol “TMDE” on April 21, 2025, and closed on April 22. In addition, the company granted the underwriters an option, exercisable within 45 days from the closing date of the offering, to purchase up to an additional 465,000 shares at the public offering price, less underwriting discounts, to cover the over-allotment option, if any.

The company intends to use the net proceeds from the offering for the purchase of cargo oil, defraying listing expenses, and working capital and other general corporate purposes.

The Loeb team that represented TMD Energy was led by Lawrence Venick, managing partner of the firm’s Hong Kong and Beijing offices, and included Capital Markets & Corporate partner Michael Fung, counsel Edgar Siu, and associates Samantha Lock and Rongwei Xie.

For more information, please see the company’s press release.