09:10 AM EDT, 09/10/2024 (MT Newswires) -- XCHG ( XCH ) said Tuesday it is pricing its initial public offering of 3.3 million American depositary shares at $6.20 apiece to raise a total of about $20.7 million.

The ADSs, each representing 40 Class A shares, are approved for listing on the Nasdaq Global Market under the ticker symbol "XCH" beginning Tuesday, XCHG ( XCH ) said.

XCHG ( XCH ), an EV charging technology firm, said the underwriter has an option to purchase up to 500,000 additional ADSs at the IPO price.

The offering is expected to close on Wednesday.