03:48 AM EST, 12/19/2024 (MT Newswires) -- Leishen Energy (LSE) said late Wednesday it priced its initial public offering of 1.4 million shares at $4 per share for expected gross process of $5.5 million.

The company said the shares are expected to begin trading on the Nasdaq Capital Market on Thursday under the "LSE" ticker.

The Chinese clean-energy equipment provider said it granted underwriters a 45-day option to purchase up to 206,250 additional shares.

Proceeds from the offering, expected to close on Friday, will be used to fund the construction of a high-tech manufacturing park in Nanjing Lishui High-tech Development Zone, establish a smart manufacturing and new energy R&D center, and for the purchase of business equipment and patented technologies, among other things.