Jianzhi Education opens 2,400% above IPO price in U.S. listing

GigaCloud Technology

26/08/2022 16:45

** China's Jianzhi Education Technology Group  JZ.O  soars
on Fri in Nasdaq debut
    ** JZ opens at $126.00 vs $5 IPO price, jumps as high as
$186.01. Shares last traded at $54.90 amid multiple halts for
volatility
    ** Beijing-based digital education co raised $25 mln by
selling 5 mln American Depositary shares  urn:newsml:reuters.com:*:nGNX1pw559
    ** AMTD Global Markets and Univest Secs acted as
underwriters for the offering (See SEC filing https://www.sec.gov/Archives/edgar/data/1852440/000121390022037454/ff12022a12_jianzhiedu.htm)
    ** For 2021, JZ posted rev of ~$74 mln and net income of ~$8
mln
    ** JZ joins a string of recent U.S. listings by Asian firms
that have popped akin to meme-stock-mania  urn:newsml:reuters.com:*:nL1N2ZZ1CF

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))