11:53 AM EDT, 04/23/2024 (MT Newswires) -- Tungray Technologies ( TRSG ) said Tuesday it closed its initial public offering of 1.25 million class A ordinary shares priced at $4 apiece for gross proceeds of $5 million.

The underwriter of the offering has an overallotment option to acquire up to 187,500 additional shares, the company said.

Tungray's ( TRSG ) shares started trading on Nasdaq Capital Market Friday.

The company's shares were down 34% in recent trading.

Price: 4.88, Change: -2.52, Percent Change: -34.05