Galaxy Payroll Group (GLXG) shares debuted on Nasdaq on Thursday with an opening price of $4.44, above the initial public offering price of $4.

The shares were most recently changing hands at $4.93 apiece.

The stock debuted on the Nasdaq Capital Market under the ticker symbol "GLXG."

The company is offering 1.75 million shares in the IPO and has granted underwriters an option to buy an additional 262,500 shares if needed.

Proceeds from the offering will fund brand promotion, recruitment, office expansion, IT upgrades, and general working capital, the company said.

Price: 4.78, Change: +0.78, Percent Change: +19.50