Initial public offering hologram, night panoramic city view of Bangkok. The financial center for multinational corporations in Asia. The concept of boosting the growth by IPO process. Double exposure.


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Fabless chipmaker Nano Labs (NASDAQ:NA) stock fell 20% during its third day of trading on Thursday.

Shares of the Chinese company opened at $8.01, recently changing hands at $7.02, down 20%, at approximately 11:00 a.m. ET.

Nano held its IPO on Tuesday, offering 1.8M American Depositary Shares at $11.50 per ADS to raise approximately $20M. The stock finished its debut session at $12.05.

The IPO had been downsized from an earlier proposal that sought to raise around $37M by offering 3.5M ADSs priced between $9.50 to $11.50.

For a more in-depth look at Nano Labs, check out SA contributor Donovan Jones’s “Nano Labs Finalizes Proposed US IPO Terms”.


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