Mmtec’s (NYSE:MTC) quiet period will expire on Monday, February 18th. Mmtec had issued 1,800,000 shares in its initial public offering on January 8th. The total size of the offering was $7,200,000 based on an initial share price of $4.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Shares of MTC opened at $5.71 on Monday. Mmtec has a 12-month low of $4.50 and a 12-month high of $11.44.
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Mmtec Company Profile
Mmtec, Inc develops and deploys platforms that enable financial institutions to engage in securities market transactions and settlements in the People's Republic of China. It offers Internet-based securities solutions, such as Securities Dealers Trading System, which includes securities registration and clearing, account management, risk management, trading and execution, and third party access middleware; Private Fund Investment Management System that supports multi-account management, fund valuation, risk management, quantitative trading access, liquidation, and requisition management; and Mobile Transaction Individual Client System and PC Client System for Apple IOS, Android, PC, and Web.
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