Netclass Technology Inc. (NTCL), a leading B2B smart education IT solutions provider, saw its shares soar 5% in its public market debut on the Nasdaq on Friday.
The strong opening followed the company's successful $9 million initial public offering earlier this week. Netclass priced its IPO at $5 per share, offering 1.8 million Class A ordinary shares to raise gross proceeds of $9 million.
The robust investor demand and positive sentiment surrounding Netclass' growth prospects as an innovative edtech company likely drove the first-day share price increase. The Shanghai-based firm provides a range of software and technology solutions for schools, training institutions, and corporations, including online teaching platforms, educational blockchain systems, and lecturer evaluation services.
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