Leishen Energy (LSE) said late Wednesday it priced its initial public offering of 1.4 million shares at $4 per share for expected gross process of $5.5 million.
The company said the shares are expected to begin trading on the Nasdaq Capital Market on Thursday under the "LSE" ticker.
The Chinese clean-energy equipment provider said it granted underwriters a 45-day option to purchase up to 206,250 additional shares.
Proceeds from the offering, expected to close on Friday, will be used to fund the construction of a high-tech manufacturing park in Nanjing Lishui High-tech Development Zone, establish a smart manufacturing and new energy R&D center, and for the purchase of business equipment and patented technologies, among other things.
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