Shares of One and One Green Technologies Inc. (NASDAQ: YDDL) experienced a remarkable surge in after-hours trading on Thursday, soaring 67.90% following the company's successful debut on the Nasdaq Capital Market. This dramatic increase comes on top of the 15% gain seen during regular trading hours, reflecting strong investor enthusiasm for the Philippines-based waste materials and scrap metal recycling company.
The extraordinary after-hours performance follows One and One Green's initial public offering (IPO), which raised $10 million by offering 2 million Class A ordinary shares at $5.00 each. The company's shares opened at $5.75 and closed the regular trading session at $5.75, representing a 15% increase from the IPO price. The additional 67.90% surge in after-hours trading suggests continued strong demand and positive sentiment towards the company's prospects.
One and One Green Technologies stands out in the recycling industry with its government-issued license to import hazardous waste as raw materials into the Philippines and an impressive annual processing capacity of approximately 300,000 tons. The company's focus on environmentally friendly technologies, including an innovative exhaust gas recirculation system, has positioned it as a leader in the waste recycling sector. Investors appear to be drawn to the company's unique business model and its plans to expand sourcing from Japan and South Korea, as well as its ambitions to broaden its presence across Southeast Asia and other international markets.
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