JBDI Holdings Surges Another 54% After Soaing 102% Yesterday

Tiger Newspress08-28

JBDI Holdings surged another 54% in premarket trading on Wednesday after soaing 102% on Tuesday.

Shares of JBDI Holdings Limited soared 102.4% on Tuesday, following the company's announcement that it had successfully priced its initial public offering (IPO) of approximately 2.3 million ordinary shares at $5 per share.

The recycling company's IPO raised gross proceeds of $11.3 million, with the offering consisting of approximately 1.8 million shares from JBDI Holdings itself and 500,000 shares from selling shareholders.

The strong investor demand and successful IPO pricing are seen as catalysts for the significant surge in JBDI's stock price. The shares commenced trading on the Nasdaq Capital Market on Tuesday under the ticker "JBDI."

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