Jinzi Carries Forward IPO Momentum
May 21, 2021 at 11:10 AM EDT
Friday, May 21, 2021 Jinzi Carries Forward IPO Momentum Jiuzi Holdings, Inc. (NASDAQ:JZXN) rose Friday after dropping 25% on Thursday. The company recently priced its upsized IPO of up to $5.2 million ordinary shares at $5 per share. The China-based Jiuzi, a new energy vehicles franchisor and retailer under the brand name "Jiuzi" in China, made the announcement Thursday. The Offering is being conducted on a firm commitment basis. Boustead Securities, LLC is acting as the sole underwriter for the Offering. Ortoli Rosenstadt LLP is acting as counsel to the Company, and Sichenzia Ross Ference LLP is acting as counsel to Boustead Securities, LLC. A registration statement on Form F-1 relating to the Offering was filed with the Securities and Exchange Commission ("SEC") (File Number: 333-248416) and was declared effective by the SEC on May 17, 2021 , and a registration statement filed pursuant to Rule 462(b) (File No. 333-256223) became effective upon filing with the SEC. The Offering is being made only by means of a prospectus, forming a part of the registration statement. JZXN shares hiked $1.67, or 22.4% to $9.09.