Shares of The Growhub Limited (TGHL) are soaring 5% in intraday trading on Thursday, marking a strong debut for the Singapore-based blockchain technology company on the Nasdaq Stock Market. The surge comes as GrowHub successfully priced its initial public offering (IPO) at $4 per share, raising $15 million in the process.
According to a late Wednesday announcement, GrowHub offered 3.75 million Class A shares in its IPO. The company's underwriters have been granted a 45-day option to purchase an additional 562,500 shares to cover potential overallotments, which could further boost the total funds raised.
The strong market reception to GrowHub's IPO suggests investor confidence in the company's blockchain technology offerings and growth potential. As trading continues, market participants will be closely watching TGHL's performance to gauge long-term investor sentiment towards this latest entrant in the blockchain sector.