By Josh Beckerman
Shares of Hong Kong-based financial services company Garden Stage more than doubled in their Nasdaq trading debut on Friday after an initial public offering of 2.5 million shares priced at $4 each.
The stock rose to $8.74 per share. As of Nov. 16, the company expected to offer 2 million shares at a price between $4 and $5 each.
Garden Stage plans for the use of proceeds from the sale include expanding underwriting and placing services, commencing its securities margin financing services, enhancing information technology infrastructure and expanding its asset management service.
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