FBS Global (FBGL) shares were down 6.7% in recent Thursday trading after opening at $4.26 on their Nasdaq debut, below the company's initial public offering price of $4.50.
The building contractor priced its IPO of 2.25 million shares Thursday for gross proceeds of about $10.1 million. Underwriters were granted a 45-day overallotment option to acquire up to 337,500 additional shares at the IPO price to cover any over-allotments.
The company expects the offering to close Friday.
Price: 4.20, Change: -0.30, Percent Change: -6.67
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