(Xinhua) The trading of cryptocurrency equipment in China started on Friday in Ebang International Holdings.
The firm, tradeing with "EBON" ticker symbol, has announced pricing its initial public offer of approximately $19.3 million in shares of $5.23, if the underwriter does not exercise its over-allotment right for the purchase of additional stock, at a total bid of approximately $101 million.
Founded in 2010, it is, according to the company's prospectus in 2019, one of the largest applications-specific integrated circuit chip design companies and a major Bitcoin mining machine manufacturers on the global market of computer resources.
Hu Dong, founder, chairman and managing director of Ebang, said Xinhua planned to contribute to the company's further growth and the promotion of brand construction and the attracting of more talent.
The company intends to make use of the net revenues from the offer primarily for expanding its operations, the development and introduction of new mining machines.
The company's stock closed on Friday by 4.4% lower.
The S&P US Listed Chinese index 50 for Thursday was set at 4,016, reflecting a 13.96 per cent gain on current monthly returns and a 26,8 per cent rise on current year's exchange. The output of the top 50 Chinese companies listed in US exches was tracked by a total market cap of 4,016.
Source : Xinhua
