US Stock Movement | Zentra Group Company Limited (ZGM.US) Prices IPO at $4 Per Share, Closes Down Nearly 8% on Trading Debut

Stock News

Sep 10

Chinese fintech product provider Zentra Group Company Limited (ZGM.US) issued 1.5 million shares at $4 per share, raising $6 million. The offering price was at the lower end of the $4-5 price range. Zentra Group Company Limited's common shares began trading on NASDAQ on September 9 (Tuesday), dropping as much as 20% during the session before ultimately closing down 7.75% at $3.69.

Zentra Group Company Limited is a professional service provider based in Macau. The company initially focused on providing industrial park and business investment consulting services, and began developing its fintech business in the second half of 2023, which now accounts for the majority of its fiscal 2024 revenue. Its fintech business currently includes selling platforms for analyzing customer credit risk and consumer behavior, as well as serving as an intermediary distributor for fintech products from its supplier Guo Yan.

Cathay Securities served as the exclusive underwriter for the IPO transaction.

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