10:49 AM EDT, 04/19/2024 (MT Newswires) -- Tungray Technologies' (TRSG) shares surged 155% in recent Friday trading on their debut on the Nasdaq Capital Market after opening at $6.58, higher than its initial public offering price.

The company late Thursday said it priced its IPO of 1.25 million class A shares at $4 each for about $5 million in gross proceeds.

The underwriter of the offering has an overallotment option to acquire up to 187,500 additional shares. Tungray expects the offering to close Tuesday.