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Onfolio Stock Declines After Opening Lower Than Initial Public Offering Price on Nasdaq Debut

MT Newswires ·  08/26/2022 23:51

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

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