11:48 AM EDT, 08/26/2022 (MT Newswires) -- Onfolio Holdings (ONFO) stock declined Friday morning after opening lower than the initial public offering price on its Nasdaq debut.
The company's stock was down about 50% at $2.51 per share in recent trading after opening at $3.35. Onfolio on Thursday priced its IPO of 2.8 million units at $5 per unit, compared with its prior plan of issuing 3.1 million units at $4.50 per unit.
The company expects gross proceeds of $13.7 million on closing the offering on Tuesday.
Trading volume stood at about 3.7 million in recent Friday morning trading.
Price: 2.51, Change: -2.47, Percent Change: -49.60