Lockset maker Intelligent Living Application Group ( NASDAQ: ILAG ), which went public in July, saw its shares jump 32% in midday trading Tuesday.
Shares opened at $2.49, reaching a high of $2.80 in early trading before slipping to a low of $2.16 in late morning. They recently changed hands at $2.48, up 32% from Monday's close, at approximately 11:40 a.m. ET.
Based in Hong Kong, Intelligent Living is a maker of mechanical locksets and electronic security devices. Its products are sold primarily in Canada and the US.
The company raised $20M through an initial public offering on July 13, offering 5M shares for $4 per share. Shares of the lockset maker soared during their market debut , but tumbled during their second day of trading.
For more on Intelligent Living, check out SA contributor Donovan Jones’s “Intelligent Living Application Group Proposes IPO Plan.”
For further details see:
Lockset maker Intelligent Living Application Group stock jumps 32%