Jiuzi Holdings (NASDAQ:JZXN) stock is on the move Friday after the company completed its initial public offering (IPO) yesterday.
Here’s everything investors need to know about JZXN stock.
- Starting off, Jiuzi Holdings is a Chinese company that operates retail stores under the Jiuzi name.
- These locations act as places to purchase new energy vehicles (NEVs).
- The company operates in third-fourth tier cities in China and has 31 franchise stores and a single company-owned store.
- Jiuzi gets its NEV vehicles from more than 20 manufacturers.
- The majority of NEVs that it sells are battery-operated.
- It was founded in 2017.
- The Jiuzi Holdings IPO saw it listing a total of 5.2 million shares of JZXN stock on the Nasdaq Exchange.
- These shares started trading for $5 each and generated aggregate gross proceeds of $26 million for the company.
- That’s prior to deducting underwriting discounts and other expenses of the IPO.
- Boustead Securities was the only underwriters of the offering.
- Ortoli Rosenstadt acted as Jiuzi Holdings’ legal advisor and Sichenzia Ross Ference provided counsel to Boustead Securities.
- While Jiuzi Holdings has only been on the market for a couple of days, it’s already seeing incredibly heavy trading today.
- As of this writing, more than 19 million shares of the stock have changed hands.
- The company’s daily average trading volume is closer to 1.8 million shares.
- However, it’s worth noting that there hasn’t been much time yet to determine what the true daily average trading volume for JZXN stock will be.
JZXN stock is rocketing higher on Friday with shares climbing 76.3% during morning trading.
Investors interested in other IPO news have plenty to catch up on.
Several companies have been making headlines with recent IPOs. That includes Procore Technologies (NYSE:PCOR), Oatly (NASDAQ:OTLY), and Squarespace (NYSE:SQSP). You can learn more about these IPOs below.
More Friday IPO News
- PCOR Stock IPO: 8 Things to Know as Procore Technologies Starts Trading
- Oatly IPO: 6 Things for OTLY Stock Investors to Know as Shares Begin Trading
- Squarespace IPO: 5 Things for Potential SQSP Stock Investors to Know as Shares Begin Trading
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.