Hong Kong IoT company Meihua Chuangfu listed on Nasdaq last night, priced at $4, and fell nearly 5% on the first day
Meihua Chuangfu, which provides Internet of Things solutions and services for enterprises in the Asia-Pacific region, conducted its initial public offering (IPO) on the U.S. stock market on July 16, Eastern Time, raising a total of $15 million by issuing 3.8 million shares at $4 each. The pricing was at the lower end of the issuance range of $4 to $5. On its first day of trading, the stock fell 4.75% to $3.81. Meihua Chuangfu is headquartered in Hong Kong, China, and through its operating subsidiary QBS System Limited (QBS System), it focuses on providing comprehensive Internet of Things solutions and services across multiple industries, with the vision of becoming the preferred Internet of Things solution provider for enterprises and projects in the Asia-Pacific region. Its business service portfolio includes Internet of Things integration solution services, Internet of Things maintenance and support services, business process outsourcing (BPO) services, and trade sales. Meihua Chuangfu is listed on NASDAQ under the stock code MGRT. D. Boral Capital serves as the exclusive bookrunner for this transaction
According to Zhitong Finance APP, Meihua Chuangfu (MGRT.US), which provides Internet of Things solutions and services for enterprises in the Asia-Pacific region, conducted its initial public offering (IPO) on July 16, Eastern Time, raising a total of $15 million by issuing 3.8 million shares at $4 each. The pricing was at the lower end of the offering range of $4 to $5. On its first day of trading, the stock fell 4.75% to $3.81.
Meihua Chuangfu is headquartered in Hong Kong, China, and focuses on providing comprehensive Internet of Things solutions and services across multiple industries through its operating subsidiary QBS System Limited (QBS System), with the vision of becoming the preferred Internet of Things solution provider for enterprises and projects in the Asia-Pacific region. Its service portfolio includes Internet of Things integration solution services, Internet of Things maintenance and support services, business process outsourcing (BPO) services, and trade sales.
Meihua Chuangfu is listed on NASDAQ under the stock code MGRT. D. Boral Capital serves as the exclusive bookrunner for this transaction
