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Stock impact report

Qilian International Holding Group Limited Announces Closing of Initial Public Offering

Qilian International Holding Group Ltd. - Ordinary Shares (QLI) 
Company Research Source: GlobeNewswire
Jiuquan, China, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Qilian International Holding Group Limited (the “Company”) (Nasdaq: QLI), a China-based pharmaceutical and chemical products manufacturer, today announced the closing of its initial public offering ("Offering") of 5,000,000 ordinary shares at a public offering price of US$5.00 per share. The Company received aggregate gross proceeds of US$25 million from this Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 750,000 ordinary shares at the public offering price, less underwriting discounts. The ordinary shares began trading on the Nasdaq Global Market on January 12, 2021 under the ticker symbol “QLI”. Proceeds from the Offering will be used for fixed asset investment in Oxytetracycline API production facilities, construction of an organic-waste treatment facility, fixed asset investment in Heparin Sodium Show less Read more
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