Shares of Decent Holding Inc., a China-based wastewater treatment services provider, surged 6.25% in intraday trading on Wednesday, marking a strong debut for the company's initial public offering (IPO) on the Nasdaq stock exchange.
Decent Holding priced its IPO of 1.3 million shares at $4 apiece, raising gross proceeds of $5 million. The stock began trading on the Nasdaq under the ticker symbol "DXST" on Wednesday.
The company said it 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.