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Investing.com -- Chinese company Haoxin Holdings Limited, which provides temperature-controlled truckload and urban delivery services, started trading today on the Nasdaq Capital Market under the ticker HXHX. The shares opened at $4.75 each, following the company’s initial public offering (IPO) which was priced at $4.00 per share.
The IPO consisted of 1,750,000 Class A ordinary shares, each with a par value of $0.0001, for total gross proceeds of $7 million before the subtraction of underwriting discounts, commissions, and offering expenses.
In addition, Haoxin has given the underwriters a 45-day option to buy up to an extra 262,500 Class A ordinary shares at the public offering price, but with underwriting discounts and commissions deducted. Craft Capital Management LLC and WestPark Capital, Inc. are serving as the representatives of the underwriters for the offering.
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