Li Bang International (LBGJ) shares were up 16% in recent Wednesday trading after opening at $4.7 each on their Nasdaq debut, higher than the company's $4 initial public offering price.
The commercial kitchen equipment company priced its IPO of 1.52 million shares late Tuesday, for about $6.1 million in expected gross proceeds.
IPO underwriters have a 45-day overallotment option to purchase up to 228,000 additional shares.
The company expects the offering to close by Thursday.
Price: 4.63, Change: +0.63, Percent Change: +15.75
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