UTime Limited (UTME) IPO Opens 175% Higher

April 6, 2021 11:23 AM EDT

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Today's IPO for UTime Limited (Nasdaq: UTME) opened for trading at $11 after pricing 3,750,000 shares of its ordinary shares at a price of US$4.00 per share.

Boustead Securities, LLC, acted as the lead underwriter for the offering, with Brilliant Norton Securities Company Limited and Fosun Hani Securities Limited serving as co-underwriters.

UTime Limited operates as a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally and helping low-income individuals from established and emerging markets. UTime Limited is mainly engaged in the design, development, production, sales and brand operation of mobile phones, accessories and related consumer electronics. UTime Limited values systematic management and organizes production with strict high-quality standards and production technologies. UTime Limited continuously endeavors to improve its overall manufacturing service level, to strengthen its cost control processes, and enhance its ability to respond rapidly to market dynamics for sustainable development in its Electronics Manufacturing Services segment.



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