Security devices maker Intelligent Living Applications ( ILAG ) saw its stock soar over 400% following its $20M initial public offering on Wednesday.
Shares of the Hong-Kong based company opened at $22.01, hitting a high of $24 in early trading. The stock recently changed hands at $20.50, up 413%, at approximately 11:30 a.m. ET.
Intelligent Living offered 5M shares priced at $4 per share, raising around $20M . The company is a maker of mechanical locksets and electronic security devices, primarily for the Canada and US markets.
For more on Intelligent Living, check out SA contributor Donovan Jones’s “Intelligent Living Application Group Proposes IPO Plan”.
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Lockmaker Intelligent Living Applications stock soars over 400% after $20M IPO