03:14 PM EDT, 05/15/2024 (MT Newswires) -- JIADE (JDZG) shares were higher in their debut on the Nasdaq Wednesday after pricing its initial public offering of 2 million shares at $4 apiece for gross proceeds of $8 million.

The shares were up more than 12% at $4.51 in recent trading after opening at $4.80.

JIADE granted its underwriters a 60-day option to buy up to an additional 300,000 shares. The offering is set to close Friday.

The education supporting services company in China said the use of proceeds include for expanding its sales and operation teams, for buying vocational education and training institutions, and for working capital and other general corporate purposes.

Price: 4.51, Change: +0.51, Percent Change: +12.75