Chinese Micro-Cap Ostin Technology Group Fixes Offered Price At $ 4 Before US $ 14 Million IPO

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Ostin Technology Group, a Chinese supplier of display modules and polarizers, on Tuesday changed the terms of its upcoming IPO.

The Nanjing, China-based company now plans to raise $ 14 million by offering 3.4 million shares at $ 4. The company had previously filed to offer the same number of shares in a range of $ 3.50 to $ 4.50. Under the revised terms, Ostin Technology Group would have a market value of $ 54 million.

Ostin Technology Group was founded in 2010 and reported revenue of $ 171 million for the 12 months ended March 31, 2021. It plans to list on Nasdaq under the symbol OST. Prime Number Capital and Shengang Securities are the associated bookkeepers in the transaction.

The article by Chinese micro-cap Ostin Technology Group sets the proposed price at $ 4 ahead of the $ 14 million IPO in the United States.

Disclosure of investments: The information and opinions expressed in this document have been prepared by Renaissance Capital research analysts and do not constitute an offer to buy or sell any securities. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS) or separately managed institutional accounts may have investments in securities of the companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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