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Investing.com -- J-Star Holding Co Ltd (NASDAQ:YMAT) opened at $4.49 per share on Wednesday, trading above its initial public offering (IPO) price of $4.00 per share.
The company, which specializes in carbon fiber and composite solutions, priced its public offering on Tuesday at $4.00 per share. The offering consisted of 1,250,000 ordinary shares, with expected gross proceeds of approximately $5.0 million before deducting underwriting discounts, commissions, and estimated offering expenses.
J-Star Holding began trading on the Nasdaq Capital Market under the ticker symbol "YMAT." The company has granted Maxim Group LLC, the sole book-running manager for the offering, a 45-day option to purchase up to an additional 187,500 ordinary shares at the initial public offering price.
The company provides carbon fiber and composite solutions for various applications including personal sports equipment, healthcare products, automobile parts, resin systems, and research and development services.
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