Decent Holding Inc. (DXST), a China-based wastewater treatment services provider, saw its stock soar by 10.83% in after-hours trading on Wednesday, marking an impressive continuation of gains following the company's successful initial public offering (IPO) debut on the Nasdaq earlier in the day.
On Wednesday, Decent Holding priced its IPO, offering 1.3 million shares at $4 apiece and raising gross proceeds of $5 million. The company's shares began trading on the Nasdaq under the ticker symbol "DXST" and surged 6.25% during the regular trading session, reflecting strong investor demand for the newly public company.
The after-hours rally, which saw Decent Holding's stock price climb an additional 10.83%, further highlighted the market's enthusiasm for the wastewater treatment firm's public debut. The company plans to use the net proceeds from the IPO for business expansion, research and development, promoting its river water quality management services, upgrading wastewater treatment technology, and acquiring talent in research, development, and management roles.
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