Updates

** Shares of tungsten concentrate producer Almonty Industries ALM.O rise 6.7% to $4.80 in Nasdaq debut

** Stock opens at $5.02 apiece vs $4.50 IPO price

** ALM raised $90 million in its upsized U.S. IPO by selling 20 million shares

** Oppenheimer and Cantor were the joint bookrunners for the offering

** Proceeds will be used for development of the company's Sangdong tungsten oxide facility in South Korea and other purposes

** Earlier this year, ALM announced its intention to relocate to the U.S. from Canada

** Tungsten is a crucial mineral for defense and high-tech applications, including armor-piercing ammunition, missile components, radiation shielding and hypersonic weapons

** ALM, which supplies tungsten to the U.S. and its allies, is already listed on the Toronto Stock Exchange, the Australian Securities Exchange and the Frankfurt Stock Exchange

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))