ZCharging Technology (XCH.US) successfully listed on the Nasdaq, and its shares surged nearly 80% on the first trading day.

Market VisionWednesday, Sep 11, 2024 4:50 am ET

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China's electric vehicle charging company ZCharging Technology (XCH.US) successfully listed on the Nasdaq in the US on Tuesday. The company priced 3.3 million American Depository Shares at $6.20 each, near the lower end of the previous price range of $6-$8, raising $20.7 million. The stock price surged nearly 80% during the first trading day, hitting the limit. As of the close, the stock rose about 19% to $7.36.

According to the information, ZCharging Technology is headquartered in Beijing, China, with significant operations in Hamburg, Germany. It offers comprehensive EV charging solutions by integrating proprietary charging technology, energy storage technology, and supporting services. Its products mainly include C6 and C7 series of DC fast chargers and advanced battery-integrated DC fast chargers of Net Zero Series (NZS).

Founded in 2015, ZCharging Technology had revenue of $42 million in the 12 months ended March 31, 2024. TIGER Brokers was the sole bookrunner for the transaction.

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