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.
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