CHINESE agricultural products supplier Farmmi Inc. rang the Nasdaq Stock Market opening bell Monday in celebration of its initial public offering (IPO).

Shares of Farmmi began trading on the Nasdaq on Feb. 16 this year, under the ticker symbol “FAMI.”

Farmmi priced its IPO of 1.68 million ordinary shares at US$4 per share for a total of US$6.72 million in gross proceeds. In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 252,000 ordinary shares at the public offering price, less underwriting discounts and commissions.

ViewTrade Securities Inc., a global provider of brokerage, investment banking, corporate, advisory and trading platform services, acted as the sole underwriter and sole book-running manager for the offering.

“Listing on Nasdaq is a very important milestone for Farmmi, we will strive to keep growing our business scope and depth to ensure that we meet our commitment to deliver high-quality agricultural products to our customers,” siad Yefang Zhang, chairman and chief executive officer of Farmmi, after the opening bell.

Headquartered in Lishui, Zhejiang, Farmmi is an agricultural products supplier and primarily processes and sells Shiitake mushrooms, Mu’er mushrooms and other edible fungi and agricultural products, according to the prospectus.

The company’s revenues increased to US$26.7 million for the year ended Sep. 30, 2017 from US$20.7 million for the same period a year ago, while its net income increased to US$3.5 million for the year ended Sep. 30, 2017 from US$2.3 million a year ago. (Xinhua)