The IPO Buzz: Oriental Rise Holdings (ORIS) Priced IPO at $4 – Stock Flies on NASDAQ

Oriental Rise Holdings Limited (ORIS), a supplier of tea products in mainland China, priced its  IPO of 1.75 million shares – trimmed from 2.0 million shares – at $4.00 – the assumed IPO price – to raise $7.0 million on Wednesday night, Oct. 16, 2024. Shares of Oriental Rise Holdings Limited opened at $5.10 – up $1.10 or up more than 25 percent from their IPO price – at 10:20 a.m. EDT on Thursday, Oct. 17, 2024, in their NASDAQ debut on volume of just 81,540 shares. By late morning trading, Oriental Rise Holdings Limited’s stock had scored a moonshot – hitting a session high of $10.65 – up $6.65 or 166.25 percent from its $4.00 IPO price. A moonshot occurs when a stock gains 100 percent or more from its IPO price on its first day of trading. By afternoon trading, Oriental Rishe Holdings Limited’s stock had pulled back from its high to trade at $6.12 – still up $2.12 -or 53 percent – from its $4.00 IPO price on volume of nearly 1.47 million shares. US Tiger Brokers acted as the sole book-runner of Oriental Rise Holdings Limited’s small IPO. At pricing, Oriental Rise Holdings had a market cap of $87 million. Oriental Rise Holdings, based in Ningde City in the Fujian Province of mainland China, cultivates and processes tea leaves and sells tea products to tea business operators such as wholesale distributors and end-user retail customers in mainland China, according to the prospectus. The company began production and sales of tea in March 2014. The company is profitable, reporting net income of $11.5  million on revenue  of $24.12 million for the year that ended Dec. 31, 2023, the prospectus showed. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.