Investing.com — Growhub Ltd, a Singapore-based blockchain technology company, began trading on NASDAQ:TGHL Thursday at $4 per share, matching its initial public offering price set on Wednesday.
The company raised $15 million in gross proceeds by offering 3,750,000 Class A ordinary shares. Underwriters have a 45-day option to purchase an additional 562,500 shares at the offering price, which represents 15% of the shares sold in the IPO.
Alexander Capital, L.P. led the offering as book-running manager, with Network 1 Financial Securities, Inc. serving as co-underwriter. The offering is expected to close Friday, subject to customary closing conditions.
Growhub operates a blockchain technology platform that focuses on product traceability and authenticity within supply chains. The company’s business consists of three divisions: the GrowHub Platform, product trading facilitation, and IT professional services. Its technology solutions include blockchain traceability, anti-counterfeit measures, and carbon management.
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