Qilian (NASDAQ:QLI) is catching the eyes of investors on Tuesday as shares of its stock started trading today.
Qilian shares are trading today after the company revealed its IPO price of $5 per share on Monday. It’s listing 5 million shares of its stock and expects the IPO to generate $25 million. The offering also includes an option for underwriters to purchase an additional 750,000 shares.
Here’s everything potential investors need to know about Qilian with its IPO underway.
- Qilian is a pharmaceutical company based out of Gansu, China.
- The company’s stock is listed on the Nasdaq Exchange under the QLI stock ticker.
- The company’s focus is on the development, manufacturing, and marketing of certain products in the country.
- That includes “licorice products, oxytetracycline products, traditional Chinese medicine derivatives product, heparin product, sausage casings, and fertilizers.”
- It currently sells these goods in more than 20 provinces in China.
- Qilian is still a fairly new company having only been founded in February 2019.
- The company is led by chairman and CEO Zhanchang Xin.
- Xin brings with him more than 30 years of experience in research and engineering in the pharmaceutical industry.
- While it’s only the first day of trading for QLI stock, investors are still quickly snatching up shares.
- As of this writing, more than 5 million shares of the stock have changed hands.
QLI stock was up 150% as of Tuesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.