Jinxin Technology Holding Company (NAMI), a digital content service provider in China, said Thursday that it priced its initial public offering of about 1.3 million American depositary shares at $4 per ADS, for expected gross proceeds of $5 million.
The ADS, each of which represents 18 ordinary shares of the company, have been approved for listing on the Nasdaq Capital Market and are expected to start trading on Friday under the ticker symbol "NAMI."
The company also granted the underwriters a 60-day option to buy up to an additional 187,500 ADS. The offering is expected to close on or about Monday.
The company said it plans to use the net proceeds for product and content development, sales, marketing and brand promotions, recruitment of experienced personnel, potential strategic investments and acquisitions, and other general corporate purposes.
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