WASHINGTON (dpa-AFX) - Sentage Holdings Inc., a financial service provider that offers a comprehensive range of financial services across consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China, said that it has priced its initial public offering of 4 million ordinary shares at a public offering price of US$5.00 per ordinary share.
The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 9, 2021 under the ticker symbol 'SNTG'.
The company expects to receive aggregate gross proceeds of US$20.0 million from the Offering, before deducting underwriting discounts and other related expenses.
In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 600,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about July 13, 2021, subject to the satisfaction of customary closing conditions.
Sentage expects to use proceeds from the offering for acquisitions of business entities and operations that are similar to the company's, general business operations, business fund for loan recommendation business.
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