Ebang raised $101 million through an IPO

by in Cryptocurrency News

Ebang IPO

Chinese miner manufacturer Ebang International Holdings raised $101 million through an IPO, according to the Nasdaq website.

Priced at $685 million, the company issued 19.3 million shares at a price of $5.23. This is 59,000 less than planned.

Initially, the manufacturer of ASIC miners expected to raise $100 million through IPOs. Later, Ebang raised the bar to $125 million.

Related: Chinese mining giant Ebang intends to raise $100 million

The chart below shows that the shares traded on the Nasdaq under the ticker EBON initially sank to $4. However, soon the price was much closer to the opening price.

EBON shares