Chinese agricultural firm Farmmi rings Nasdaq opening bell to celebrate its IPO

Updated 2018-02-27 10:09:01 Xinhua

Yefang Zhang, chairman and chief executive officer of Farmmi (C, front) and invited guests cheer during the opening bell ceremony at Nasdaq Stock Market in New York, the United States, Feb. 26, 2018. (Xinhua/Wang Ying)

Chinese agricultural products supplier Farmmi, Inc. on Monday rang the Nasdaq Stock Market opening bell in celebration of its Initial Public Offerings (IPO).

Shares of Farmmi began trading on the Nasdaq on February 16, 2018, under the ticker symbol "FAMI".

Farmmi priced its IPO of 1,680,000 ordinary shares at 4.00 U.S. dollars per share for a total of 6,720,000 dollars in gross proceeds. In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 252,000 ordinary shares at the public offering price, less underwriting discounts and commissions.

ViewTrade Securities Inc., a global provider of brokerage, investment banking, corporate, advisory and trading platform services, acted as the Sole Underwriter and Sole Book-Running Manager for the offering.

"Listing on Nasdaq is a very important milestone for Farmmi, we will strive to keep growing our business scope and depth to ensure that we meet our commitment to deliver high-quality agricultural products to our customers," Yefang Zhang, chairman and chief executive officer of Farmmi, told Xinhua after the opening bell on Monday.

Headquartered in Lishui, Zhejiang, Farmmi is an agricultural products supplier and primarily processes and sells Shiitake mushrooms, Mu Er mushrooms, other edible fungi, and other agricultural products, according to the prospectus.

The company's revenues increased to 26.7 million dollars for the year ended Sep. 30, 2017 from 20.7 million dollars for the same period a year ago, while its net income increased to 3.5 million dollars for the year ended Sep. 30, 2017 from 2.3 million dollars a year ago.

At Monday's close, shares of Farmmi jumped 11.68 percent to 6.60 dollars apiece.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 21 2018 03:06:42

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 21 2018 03:06:42

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 21 2018 03:06:42

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords