Newater Technology (NEWA) IPO Opens, Surges Nearly 100% Higher

Today's IPO for Newater Technology (NASDAQ: NEWA) opened earlier at $7.32 after pricing 1,400,000 of its common shares at a price to the public of $5.00 per share. Shares have continued higher to $9.60.

ViewTrade Securities, Inc., a global provider of brokerage, investment banking, corporate/advisory and trading platform services, acted as sole book-running manager for the offering.

Founded in 2012 and headquartered in Yantai, Shandong Province, Newater is a China-based wastewater purification treatment company that focuses on the development, manufacture and sale of disk tube reverse osmosis and disk tube nanofiltration membrane filtration products that are used in the treatment, recycling and discharge of wastewater. The Company's products can be used across a wide spectrum of industries, including:

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