11:48 AM EDT, 10/23/2024 (MT Newswires) -- Li Bang International ( LBGJ ) shares were up 16% in recent Wednesday trading after opening at $4.7 each on their Nasdaq debut, higher than the company's $4 initial public offering price.

The commercial kitchen equipment company priced its IPO of 1.52 million shares late Tuesday, for about $6.1 million in expected gross proceeds.

IPO underwriters have a 45-day overallotment option to purchase up to 228,000 additional shares.

The company expects the offering to close by Thursday.

Price: 4.63, Change: +0.63, Percent Change: +15.75