By Katherine Hamilton
Hong Kong Pharma Digital Technology Holdings closed its initial public offering of 1.4 million shares.
The over-the-counter pharmaceutical services company priced the IPO at $4 a share.
Shares began trading on Nasdaq on Jan. 15 under the symbol HKPD, the company said.
The aggregate gross proceeds from the offering were about $5.6 million before deducting underwriting discounts. Hong Kong Pharma plans to use proceeds to develop its supply chain enterprise resource planning systems, procure warehouse equipment to improve efficiency, expand its sales and marketing team, and fund general working capital.
The company has also granted underwriters a 45-day option to purchase up to 150,000 shares to cover over-allotments at the IPO price.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 16, 2025 14:40 ET (19:40 GMT)
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