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NEW YORK - Blockchain technology company OBOOK Holdings Inc. (NASDAQ:OWLS) saw its shares close at $55.55 on Friday, marking a 455% increase from its $10.00 reference price on its first day of trading on the Nasdaq Global Market. InvestingPro data shows the company maintains moderate trading volume, with a 3-month average of 220,000 shares daily.
The Taiwan-based company, which operates as OwlTing Group, opened trading at $68.00 per share before settling at the closing price, giving the company a market capitalization of approximately $4.9 billion. InvestingPro analysis indicates concerning fundamentals, with an overall Financial Health Score of 1.52 (Weak) and negative EBITDA of -$8.75 million in the last twelve months.
"This strong market debut underscores investor confidence in our vision to leverage blockchain technology and transform global payments through regulated stablecoin infrastructure," said Darren Wang, Founder and CEO of OwlTing Group, in a press release statement.
OBOOK operates across payments, hospitality, and e-commerce sectors, with subsidiaries in the United States, Japan, Poland, Singapore, Hong Kong, Thailand, and Malaysia. The company’s main product is OwlPay, described as a Web2 and Web3 hybrid payment solution.
The registration statement for the direct listing was declared effective by the SEC on September 29, 2025. Sullivan & Cromwell LLP served as U.S. counsel to the company, while D. Boral Capital LLC acted as financial advisor.
According to the company, this direct listing makes OBOOK Asia’s first fintech company to achieve a direct listing on Nasdaq with its Class A common shares.
The reference price of $10.00 was based on the company’s latest private placement completed in August 2025. OBOOK noted that the first-day trading performance does not indicate future trading performance.
In other recent news, OBOOK Holdings Inc. announced that it has received approval to direct-list on the Nasdaq Global Market. The company will trade under the ticker symbol OWLS. Trading of its Class A common shares is set to begin on October 16. This marks a significant milestone for the company as it plans to ring the Nasdaq opening bell to commemorate the event. The direct listing allows OBOOK to join the ranks of companies on the prestigious Nasdaq exchange. This development is part of the company’s ongoing efforts to expand its presence in the financial markets. Investors and stakeholders will be watching closely as OBOOK begins its journey on the Nasdaq.
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