Ohmyhome Stock Up 5.26% Since IPO

Ohmyhome OMH opened up its shares for public trading for the first time since it filed for IPO in December 2022. The company agreed to initially offer 3.77 million shares to the public at $4.00 per share. On its first day of trading, the stock increased 5.26% from its opening price of $3.8 to its closing price of $4.00.

Ohmyhome Performance On First Day of Trading

About Ohmyhome and It's IPO

Ohmyhome is a one-stop-shop property technology platform based in Singapore, which provides end-to-end property solutions and services to end customers directly to help them buy, sell, rent, renovate their homes and more with a single application.

For its IPO, OMH agreed to offer 3.77 million shares at a price of $4.00 per share, with an insider lock-up period of 180 days, ending on September 17, 2023.

An insider lock-up period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares. The insider lock-up period makes sure that the market does not get oversupplied with shares of the company.

Traders may short the stock leading up to the lockup-period expiration date in hopes that the price will fall due to an increase in supply of shares. Retail traders should be watching this stock's short interest as it moves closer to lockup expiration.

See also: Benzinga's Most Shorted Stocks

This article was generated by Benzinga's automated content engine and reviewed by an editor.