Leifras (LFS) said Friday it has closed its initial public offering of 1.25 million American depositary shares at $4 apiece for gross proceeds of $5 million.
Each ADS represents one ordinary share, and the shares started trading on the Nasdaq Capital Market on Thursday under the ticker symbol LFS.
Underwriters have a 45-day overallotment option to buy up to an additional 187,500 ADSs, the company said.
Leifras said it plans to use proceeds to invest in human resources, expand its sports school and social businesses, and for working capital purposes.
The company's shares were up more than 18% after midday Friday.
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