Longfin, an electronic market maker and trading platform focused on the Asia-Pacific region, priced its shares at $5, as expected.
The company had planned to raise up to $50 million in a Regulation A+ IPO by offering up to 10 million shares; as of Wednesday, however, it had not yet filed a final prospectus with the SEC. As a "best efforts" Reg A+ offering, we do not count Longfin in our IPO stats.
Longfin began trading on the Nasdaq on Wednesday under the symbol LFIN. It finished its first day at $5.17 (+3%). Network 1 Financial Securities acted as lead manager on the deal.
