Shares of newly public Zhong Yang Financial Group (NASDAQ:TOP) rallied 25% Friday afternoon within the wake of 2 SEC filings.
Zhong Yang stocks opened at $24.78, hitting a low of $23.91 in early buying and selling prior to mountain climbing to a prime of $31.29. The inventory not too long ago modified arms at $30.77, up 25%, at roughly 3:20 pm ET.
The Hong Kong-based on-line brokerage stated in an SEC submitting on June 29 that it was once replacing its auditing firm Friedman LLC with YCM CPA Inc. In every other submitting on June 28, it introduced it was once holding a special shareholders meeting on July 13, Hong Kong time, that will speak about a number of pieces, together with converting the corporate’s title to TOP Financial Group.
Zhong Yang held a $25M US preliminary public providing on June 1, offering 5M ordinary shares priced at $5 per share.
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