|Bid||25.06 x 800|
|Ask||25.70 x 900|
|Day's Range||22.35 - 28.70|
|52 Week Range||7.31 - 160.68|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
NEW YORK, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Sichenzia Ross Ference LLP, a full service law firm with nationally recognized corporate, securities and litigation practices, announced today that it represented Wunong Net Technology Company Limited (Nasdaq: WNW) in a $30 million initial public offering of its ordinary shares. Wunong Net Technology Co. Ltd. (“Wunong”) is a China-based e-commerce company which uses an innovative e-platform to sell a myriad of food products. The offering was comprised of 5,000,000 ordinary shares of Wunong at a price of US$5.00 per share to the public for a total of US$25,000,000 of gross proceeds to Wunong. In addition, the underwriters have purchased 999,910 ordinary shares from a selling shareholder for US$4,999,550 for a total of US$29,999,550 in total gross proceeds from the offering.Boustead Securities, LLC and Brilliant Norton Securities Company Limited acted as lead underwriters for this firm commitment offering.The Sichenzia Ross Ference LLP team was led by partner, Benjamin Tan.About Sichenzia Ross Ference LLPSRF is a full service law firm with a nationally recognized corporate, securities and litigation practice that provides experienced representation in all matters involving the securities industry. In addition to handling routine to complex commercial matters, SRF’s renowned litigation department specializes in defending companies and individuals against all types of securities cases, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations. The litigation team has also brought defamation lawsuits against companies and individuals related to market manipulation. Additionally, it represents individuals and companies in investigations by the Securities and Exchange Commission (SEC) and other regulatory bodies. The litigation team has a robust practice representing brokers and broker-dealers in arbitrations before the Financial Industry Regulatory Authority (FINRA). These arbitrations typically involve claims of unsuitability, churning, unauthorized trading and other allegations of broker misconduct. Finally, SRF has a burgeoning expungement practice, where it represents brokers seeking to have negative and harmful customer complaints removed from their industry records. The firm complements its core practice areas with an established commercial real estate and trusts and estates practice.Media Contact: firstname.lastname@example.org
Though it's selling off today, Chinese online food retailer Wunong is still far above its Monday IPO price and trading at astronomical multiples.
Shares of Wunong Net Technology Co. Ltd. rocketed out of the gate Tuesday, as the China-based food products e-commerce company's stock as more than doubled in its public debut. The stock's first trade on the Nasdaq exchange was at $7.98 at 10:27 a.m. Eastern, or 59.6% above the initial public offering price of $5.00. The company sold 5 million shares in the IPO to raise $25 million, while the underwriters purchased 999,910 shares from a selling shareholder for nearly $5 million. With 25 million shares outstanding after the IPO, the IPO pricing valued the company at $125 million. The stock has burst higher after the open, and was last up 106.1% at $10.31. The company went public on a day that the Renaissance IPO ETF was edging up 0.2%, the iShares MSCI China ETF was gaining 0.1% and the S&P 500 was tacking on 0.9%.