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Sentage Holdings is a Shanghai-based fintech company.
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Sentage Holdings is a company based in the United States.
On Friday, the first day of trade, the stock of a Chinese fintech company jumped by as much as 1,200 percent. Sentage (SNTG) began at $42.99 on the Nasdaq, reached a high of $52, and is currently trading at $41.81, up 736 percent from its offer price. On Thursday, the Shanghai firm raised $20 million by selling $4 million shares at $5 each, the low end of its $5-to-$6 range. The deal’s underwriter is Network 1 Financial Securities.
Sentage assists Chinese consumers with loan repayment, collection management, and loan suggestions. According to the prospectus, the company began selling prepaid payment network services to merchants in August 2019. Transcode Therapeutics was also listed on the Nasdaq on Friday (RNAZ). The stock began trading at $6, reached a high of $7, and is now trading at $5.83, a 46 percent gain. Transcode had planned to go public in June, but instead chose to price its stock on Thursday. After selling 6.25 million shares at $4 each, the biotech made a profit of $25 million. The bookrunner was ThinkEquity, a part of Fordham Financial Management. Transcode is a company that develops RNA-based cancer therapies. TTX-MC138, the company’s principal product candidate, is a treatment for metastatic cancer. According to the prospectus, the company intends to submit an exploratory investigational new medicine application to the Food and Drug Administration in the first quarter of 2022. The IPOs follow one of the busiest weeks in the history of the new-issues market. During the week of July 2, nineteen firms went public, raising $9.9 billion in proceeds. Luisa Beltran can be reached at luisa.beltran@dowjones.com./n
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