Components maker Ostin Technology stock rockets 618% following $13.5M US IPO

Apr. 27, 2022 12:08 PM ETOSTBy: Val Kennedy, SA News Editor1 Comment

IPO (Initial public offering)

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Electronic display components maker Ostin Technology Group (OST) saw its shares soar 618% following the company’s $13.5M initial public offering.

Ostin shares opened at $10.10 after being priced at $4 per share. The stock hit a high of $28.73 in late morning trading, up 618% from its IPO price.

Shares recently changed hands at $23, up 475%, at approximately 11:45 a.m. ET.

Ostin priced 3.38M ordinary shares at $4 per share, raising $13.5M. Underwriters were given a 45-day option to buy up to 506K additional shares at the public price. Prime Number Capital is serving as lead bookrunner.

Incorporated in the Cayman Islands, Ostin is a supplier of display modules and polarizers in China. The company’s products are used in consumer electronics, outside LCD screens and automotive displays.

For more IPO News, check out SA's IPO News page.

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