GigaCloud Shares Up 11% After IPO Pricing

Dow Jones2022-08-19

By Kathryn Hardison

Shares of GigaCloud Technology Inc. jumped 11% to $13.62 on Thursday after the pricing of its initial public offering.

The company set an offering of 2.94 million shares at $12.25 each and began trading Thursday under the ticker GCT.

Gross proceeds are expected to be $36 million before deducting underwriting discounts and commissions and offering expenses.

The offering is expected to close on Monday.

GigaCloud operates a business-to-business platform for large parcel merchandise like furniture and large home goods.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

$(END)$ Dow Jones Newswires

August 18, 2022 12:28 ET (16:28 GMT)

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2022-08-19
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