What made Wunong Net Technology (WNW) shares sky-rocketed in the early morning today

Wunong Net Technology Co. Ltd., also known as WNW, Shares rocketed 440.4% to reach 65.10 in the pre-market trading as an e-commerce company with a platform to sell many food items on the internet, recently revealed the pricing of its initial public offering (IPO) of their 5,000,000 ordinary shares and expects total gross proceeds of US$25,000,000.

Additionally, an underwriter purchased 999,910 ordinary shares from a selling shareholder for US$4,999,550. The total gross proceeds from the offering were US$29,999,550.

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As reported in various publications, WNW shares were supposed to start trading at the Nasdaq Capital Market on December 15, 2020. The offering was scheduled to conclude on December 17, 2020, subject to customary closing conditions.

This firm commitment offering was underwritten by Boustead Securities Inc. and Brilliant Norton Securities Co. Ltd.

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