California restaurant chain Yoshiharu Global (NASDAQ:YOSH), which specializes in Japanese ramen, saw its stock jump 20% following a $12M initial public offering on Friday.
Shares of Yoshiharu opened at $5.20, reaching an early high of $6.50 before dipping to a low of $4.16. The stock recently changed hands at $4.81 at approximately 2:00 p.m. ET.
Yoshiharu offered 2.94M shares priced at $4 per share. Underwriters received an option to buy up to 441K additional shares.
Earlier this month, Yoshiharu said that it was looking to offer 2.45M shares priced between $4 and $5 per share, which would have raised around $11M if priced at the midpoint.
The IPO had been downsized from a proposal made in May that would have raised around $17M.
Image and article originally from seekingalpha.com. Read the original article here.