LZ Technology Holdings (LZMH) jumped in its Nasdaq debut on Thursday, rising more than 60% from the company's IPO price.
The shares were recently trading at $6.50, up more than 62%.
The Huzhou, China-based the information technology and advertising company on Wednesday priced its initial public offering of 1.8 million Class B shares at $4 per share to raise expected gross proceeds of $7.2 million.
Underwriters were granted a 45-day option to buy up to an additional 270,000 shares at the offering price. The offering is scheduled to close on Friday.
Net proceeds will be used for research and development, international expansions, strategic acquisitions, marketing efforts and working capital, the company said.
Price: 5.12, Change: +1.12, Percent Change: +28.00
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