IPOS - NJ Brokerage Network 1 Financial Known For 2000% IPO Surges Eyes US Exchange Return After Hiatus | Benzinga
Notorious for guiding the world’s most volatile IPOs in 2022, brokerage firm Network 1 Financial Securities Inc. is gearing up to usher a new group of microcap companies into the U.S. exchanges.
What Happened: The Red Bank, New Jersey-based firm is set to underwrite for Epsium Enterprise Ltd., a Macau-based alcoholic beverage wholesaler, and BRB Foods Inc., a Brazilian snack producer, Bloomberg reported. This marks a comeback after leading only a single deal last year.
In 2022, Network 1 caught the eye of Wall Street when its IPOs, including Chinese companies like Addentax Group Corp. (NASDAQ:ATXG), saw average first-day trading surges of nearly 2,000%, per Bloomberg’s data. However, most firms it underwrote are now trading lower, with a median 88% drop since going public.
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The firm, established in 1983, ...