FGI Industries Ltd. (FGI) IPO Opens at $5

Today's IPO for FGI Industries Ltd. (Nasdaq: FGI) opened for trading at $5 after pricing 2,500,000 units, each consisting of one ordinary share and one warrant to purchase one of our ordinary shares at a price to the public of $6.00 per unit.

The offering is being made through The Benchmark Company, which is acting as lead book-running manager for the offering, and Northland Capital Markets, which is acting as joint book-running manager for the offering. Faegre Drinker Biddle & Reath LLP acted as counsel to the issuer and McGuireWoods LLP acted as counsel to the underwriters.

FGI Industries Ltd. (Nasdaq: FGI), is a leading global supplier of kitchen and bath products. Over the course of 30 years, we have built an industry-wide reputation for product innovation, quality, and excellent customer service. We are currently focused on the following product categories: sanitaryware (primarily toilets, sinks, pedestals and toilet seats), bath furniture (vanities, mirrors and cabinets), shower systems, customer kitchen cabinetry and other accessory items. These products are sold primarily for repair and remodel activity and, to a lesser extent, new home or commercial construction. We sell our products through numerous partners, including mass retail centers, wholesale and commercial distributors, online retailers and specialty stores.

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