RETO Eco-Solutions, a Chinese supplier of eco-friendly construction materials, raised $14 million by offering 2.8 million shares at $5, within the range of $4.50 to $5.50. At IPO, the company commands a market value of $112 million.
The company priced and began trading on Wednesday (Nasdaq: RETO), finishing its first day at $10.57. Its 111% gain is the best first-day pop for a 2017 IPO, though we note that volume was especially low at just 0.3 million shares. ViewTrade acted as sole bookrunner on the deal.
