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Investing.com -- WF International Limited, a company that specializes in the supply, installation, and maintenance of various electromechanical systems, began trading its shares today on the Nasdaq Capital Market under the ticker symbol "WXM." The shares opened at $4.20, following an initial public offering (IPO) priced at $4.00 per share.
Yesterday, the company announced the pricing of its IPO. It offered 1,400,000 ordinary shares to the public at the price of $4.00 per share. The company anticipates that it will receive gross proceeds of $5,600,000 from this offering, before accounting for underwriting discounts and other related expenses.
In addition to the shares offered in the IPO, WF International has provided the underwriters with a 45-day option. This option allows the underwriters to purchase up to an additional 210,000 ordinary shares at the IPO price. This represents 15% of the ordinary shares sold in the offering.
The Benchmark Company, LLC and Axiom Capital Management, Inc. are serving as joint book-running managers for the offering.
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