Zinger Key Points
- J-Long announces the closing of its initial public offering of 1,400,000 ordinary shares at a public offering price of $5.00 per share.
- The company intends to use the net proceeds from the offering for potential acquisitions and investments in other reflective materials.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
J-Long Group Limited JL shares are volatile Monday on post-IPO volatility after shares began trading on the Nasdaq Global Market on Jan. 24.
What To Know:
J-Long Group announced the closing of its initial public offering of 1,400,000 ordinary shares at a public offering price of $5.00 per share and listed the aggregate gross proceeds from the offering at $7 million.
The company intends to use the net proceeds from its IPO for potential strategic acquisitions and investments in other reflective materials distributors and providers, as well as upstream and downstream businesses along the industry value chain.
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JL Price Action: According to Benzinga Pro, J-Long Group shares are up 10.75% at $11.13 at the time of publication.
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