12:11 PM EDT, 04/23/2024 (MT Newswires) -- Neo-Concept International Group's (NCI) stock rose past 13% in recent Tuesday trading on its debut on the Nasdaq Capital Market after opening at higher than $4-per-share initial public offering price.

The offering comprises 2.3 million ordinary shares and is set to close on Thursday, the company said. Underwriters have a 45-day option to buy up to an additional 348,000 ordinary shares.

Net proceeds will be used for developing new products, expanding customer base, for potential acquisitions or joint ventures, and toward the working capital and other general corporate purposes.

Price: 4.54, Change: +0.54, Percent Change: +13.50