Sentage Holdings Inc. SNTG, +612.00 percent saw its stock soar on Friday as the China-based financial services provider went public with an almost ninefold gain. The company raised $20 million in its first public offering (IPO), which priced at $5 per share late Thursday, at the low end of the predicted range of $5 to $6 per share. The stock was first traded on the Nasdaq at $42.99 for 14,242 shares at 11:14 a.m. Eastern. The corporation was worth $601.9 million at that pricing. The IPO’s lone underwriter was Network 1 Financial Securities. Since the open, the stock has lost some ground, and it was last trading at $36.60, up 632 percent. After a net loss of $1.8 million on revenue of $4.0 million in 2019, the company earned $1.6 million on revenue of $3.6 million in 2020. The business went public at a time when the Renaissance IPO ETF IPO, +1.57 percent has gained 0.5 percent over the last three months, while the iShares MSCI China ETF MCHI, +2.41 percent has lost 4.7 percent and the S&P 500 SPX, +1.00 percent has gained 5.6 percent./n
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