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Jin Medical International ZJYL opened up its shares for public trading for the first time since it filed for IPO in September 2021. The company agreed to initially offer 1.00 million shares to the public at $8.00 per share. On its first day of trading, the stock fell 0.62% from its opening price of $8.0 to its closing price of $7.95.
Jin Medical International Performance On First Day of Trading
About Jin Medical International and It’s IPO
The China-based VIE, Changzhou Zhongjing and its subsidiaries, design and manufacture wheelchairs and living aids products for people with disabilities, the elderly, and people recovering from injury
For its IPO, ZJYL agreed to offer 1.00 million shares at a price of $8.00 per share, with an insider lock-up period of 180 days, ending on September 24, 2023.
An insider lock-up period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares. The insider lock-up period makes sure that the market does not get oversupplied with shares of the company.
Traders may short the stock leading up to the lockup-period expiration date in hopes that the price will fall due to an increase in supply of shares. Retail traders should be watching this stock’s short interest as it moves closer to lockup expiration.
See also: Benzinga’s Most Shorted Stocks
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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Image and article originally from www.benzinga.com. Read the original article here.