Stock Track | XCharge Soars Nearly 17% in Nasdaq Debut After $20.7 Million IPO

Stock Track09-10

XCharge (NASDAQ: XCH), a global leader in integrated electric vehicle (EV) charging solutions, made a strong debut on the Nasdaq stock exchange on Monday, with its shares surging nearly 17% after the company priced its initial public offering (IPO) at $6.2 per American Depositary Share (ADS).

The company raised approximately $20.7 million in its IPO by offering 3.33 million ADSs, with each ADS representing 40 Class A ordinary shares. XCharge has granted the underwriter a 30-day option to purchase up to an additional 500,000 ADSs at the IPO price.

Founded in 2015, XCharge specializes in comprehensive EV charging solutions, including DC fast chargers, advanced battery-integrated DC fast chargers, and accompanying services. The company's proprietary technology aims to enhance charging efficiency and unlock the value of energy storage and management, contributing to a greener future.

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