On August 31, 2022, the company’s common stock is anticipated to begin trading on Nasdaq Capital Market under the ticker symbol “ATXG.”
Addentax Group (NASDAQ:ATXG)
Shares of Addentax Group (NASDAQ:ATXG) started off at $27 before falling to a low of $12.95 in late morning trading after trading reached a high of $32.56 early on. At around 11:25 a.m. ET, the shares recently traded hands for $25.27, a 405% increase over their IPO price.
Five million shares, priced at $5 each, were made available by Addentax. A 45-day option to purchase up to 750,000 more shares at the market price was granted to the underwriters. As lead bookrunner, Network 1 Financial Securities is acting. Shares of Addentax were OTC traded under the ATXG ticker until Wednesday.
Addentax, a Nevada-based corporation, mostly conducts business through subsidiaries in China, where it offers services such as clothing manufacturing, the production and distribution of materials for preventing epidemics, logistics, and property management. The company’s corporate headquarters are in China’s Shenzhen.
Earlier, the company submitted a registration statement on Form S-1 (File No. 333-230943) with the SEC. On August 11, 2022, the SEC subsequently declared the registration statement valid. Only a prospectus that is a part of the registration statement is used to make the offering.
Acting as the only book runner for the Offering is Network 1 Financial Securities, whose legal counsel is Loeb & Loeb LLP. As to the Offering, VCL Law LLP is serving as the underwriter’s legal advice. An integrated service provider, Addentax Group Corp. specializes in the production of clothing, logistics support, property management and subleasing, and supplies for containing epidemics. Sales made to wholesalers, mostly in China, make up its apparel manufacturing industry.
Featured Image – Megapixl © Janeh15
Author Jowi Kwasu 
