Jianzhi Education Technology Group (NASDAQ:JZ)
Jianzhi Education Technology Group (NASDAQ:JZ) began trading at $7.66 and rose as high as $8.09 in early trade before falling as low as $6.03 by midday. At around 11:30 a.m. ET, the stock recently traded hands for $6.30, down 25% from Monday’s close.
On Friday, the business held its first public offering (IPO), selling 5 million American Depositary Shares for $5 each. During its first public offering, the stock rocketed 3,620% to a high of $186.01 before falling to settle at $18.75, up 275% from the IPO price. On Monday, the shares dropped 55% to settle at $8.37.
The company’s previously disclosed price range of $5 to $7 per ADS was used for the IPO, which raised about $30 million if priced at the midpoint. Digital courses and training videos for higher education and professional development are available from Jianzhi for the Chinese market. The company uses websites like Sentu Academy to distribute its content.
IPO by Jianzhi
The company’s stock surged on the 26th, rising by 275% on its first trading day as a public company. Jianzhi Education Technology Group set a $5 per share price for its initial public offering of 5 million American depositary shares. This was at the low end of the range that the company anticipated. The business expected a price range between $5 and $7 per ADS in regulatory filings made in July.
JZ priced its IPO at $5, began trading at $126, and swiftly soared to $186.01 after that. The shares moderated after reaching their peak but continued to rise significantly throughout the day.
Featured Image: Megapixl @Adiruch
Author Jowi Kwasu 
