Zhong yang financial group limited announces closing of $25,000,000 initial public offering

Hong kong china, june 03, 2022 (globe newswire) -- zhong yang financial group limited (the "company") (nasdaq: top), a fast-growing online brokerage firm located in hong kong specializing in the trading of local and foreign equities, futures, options products and other financial services, today announced the closing of its initial public offering (the "offering") of 5,000,000 ordinary shares (the "ordinary shares") at a public offering price of $5.00 per share for total gross proceeds of $25,000,000 before deducting underwriting discounts and offering expenses. the offering was conducted on a firm commitment basis. in addition, the company has granted the underwriters an option, exercisable one or more times in whole or in part, to purchase up to 750,000 additional ordinary shares at the initial public offering price, less underwriting discounts, within 45 days from the closing date of the offering to cover over-allotments, if any. the offering closed on june 3, 2022 and the ordinary shares began trading on june 1, 2022 on the nasdaq capital market under the ticker symbol "top".
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