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Investing.com -- Pitanium Limited, a company specializing in beauty and personal care products, started trading on the Nasdaq Capital Market today under the ticker symbol "PTNM." The company’s shares opened at $4.51, following the initial public offering (IPO) price of $4.00 for its 1.75 million Class A ordinary shares.
Cathay Securities, Inc. served as the sole underwriter for the offering. Pitanium Limited also granted Cathay Securities a 45-day option to purchase up to an additional 262,500 Class A ordinary shares at the IPO price of $4.00 per share, minus underwriting commissions. This option, known as the over-allotment, provides the underwriter with the opportunity to sell more shares than originally planned if demand proves to be higher than expected.
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