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Investing.com -- Grande Group Limited (NASDAQ:GRAN) began trading on the Nasdaq Capital Market today at $5.90 per share, following its initial public offering priced at $5.00 per share.
The Hong Kong-based financial services provider, which primarily offers corporate finance advisory and IPO sponsor services through its subsidiary Grande Capital Limited, issued 1,875,000 Class A ordinary shares in the offering.
The company expects to receive approximately $9.375 million in gross proceeds from the IPO, before deducting underwriting discounts and other related expenses.
Grande Group has also granted the underwriters a 45-day option to purchase up to an additional 281,250 Class A ordinary shares at the $5.00 offering price, representing 15% of the shares sold in the initial offering.
Cathay Securities, Inc. is serving as the underwriter for the offering.
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