The stock opened at a 20% drop, with a price of $3.2.
According to Zhongtong Finance, Rectitude Holdings (RECT.US) landed on Nasdaq on Friday, opening at a 20% drop of $3.2, with an IPO price of $4. Rectitude was founded in Singapore in 1997 and mainly provides safety equipment, including personal protective clothing, gloves, safety shoes, personal fall protection systems, portable fire extinguishers, and traffic products. The company also provides construction sites with industrial and electrical hardware and other auxiliary products. Rectitude's products and solutions are sold through a large number of distribution networks and terminal markets in Southeast Asian regions such as Singapore, Brunei, Cambodia, Malaysia, Indonesia, and Vietnam.