Zolak
Shares of Jin Medical International (NASDAQ:ZJYL) were trading slightly lower following the Chinese wheelchair maker’s $8M downsized US initial public offering.
Jin Medical shares opened at their IPO price of $8, jumping to an early high of $10.29 before declining. The stock recently changed hands at $7.88 at 2:05 p.m. ET.
Jin Medical offered 1M shares priced at $8 per share. The deal was downsized from one proposed last week, which sought to raise around $11M. In April, Jin Medical indicated it was interested in raising $28M.
More on Jin Medical:
Chinese wheelchair maker Jin Medical prices downsized $8M IPO
